Brazil homebuilder MRV reports 32% profit rise

Sao Paulo

MRV Engenharia e Participações SA, Brazil's largest low-income homebuilder, reported a 32.2 per cent increase in second-quarter profit despite an economic slowdown that has hurt its market in some parts of the country.

The builder, controlled by billionaire Rubens Menin and his family, earned 188 million reais (S$75.9 million) in the quarter, according to a securities filing.