Mexican builder cuts sales forecast
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From Times Wire Services
A second major Mexican home builder has cut its 2007 revenue forecast, rocking a sector that has been a jewel for investors.
Ara, one of Mexico’s top five home construction companies, cut its revenue growth outlook to 5% from 15% because of delays in winning construction permits.
Last week, home builder Geo cut its revenue growth forecast in half while blaming rain for construction delays.
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