UPDATE 1-Reyal Q1 losses quadruple, cites tough financing

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MADRID, April 30 (Reuters) - Spanish property firm Reyal Urbis (REYU.MC: Quote, Profile, Research) said on Wednesday its first-quarter losses quadrupled to 52.7 million euros ($81.9 million) from 13.7 million a year ago, on a slump in revenue and higher costs.

Sales were hit by its wholesale clients' difficulty in finding financing for property deals, Reyal said, as Spain's decade-long property boom ground to a halt.

However, the company said revenue for the full year should still be in the region of 900 million euros, with 90 percent of that figure already agreed with clients.

Total revenue fell to 187.4 million euros from 314.5 million, with property development sales down to 129.5 million euros from 243.3 million a year ago.

Financial costs soared to 92 million euros after the acquisition of Urbis by Reyal, the company said. (Reporting by Elisabeth O'Leary; Editing by David Hulmes)