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Gafisa S.A. Message Board

  • aco_brasil0192 aco_brasil0192 May 10, 2012 8:45 AM Flag

    Good articles

    I like how the CS analyst remains bearish. Do the opposite of what CS and GS recommend and you will prosper.


    Drawing down inventories will reduce costs:

    "The focus on existing projects in the first quarter paid off by doubling deliveries from a year earlier to a record 6,165 units, helping limit losses. Yet sales fell 50 percent from a year earlier, given fewer new projects coming to the market."

    I noticed that Rio projects were dramatically scaled back. Now I know why. More cost cutting:

    "New projects were all focused in the state of São Paulo, to avoid the runaway costs in other regions that contributed to a net loss of 945 million reais in 2011."

    The quarterly release presentation was crystal clear... for me at least. They said it will take 15 months to clear the Tenda inventory:

    "But results continued to raise questions for Credit Suisse Group analyst Guilherme Rocha, who told clients Gafisa shares have suffered from "the absolute lack of visibility regarding margins turnaround and a clear resolution of Tenda's issues.""

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