PARIS (Thomson Financial) - Kaufman & Broad SA chairman Guy Nafilyan
confirmed last December's guidance of a 5 percent rise in full-year sales, down
from last year's 10 percent increase, during a webcast interview by the weekly
Le Revenu.
Besides the overall slowdown in the housing market, he said first-quarter
activity was hit by municipal elections in France, which led to delays in new
projects as local building permits are required.
The number of new projects launched in the first quarter slid to 19 from 45
a year earlier, with the number of housing units involved dropping to 600 from
2,000, he said.
Kaufman & Broad last confirmed its full-year sales guidance in March as it
acknowledged the market had become more challenging.
michael.strauss@thomsonreuters.com
mjs/rw
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