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FINANCIAL NEWS
Arabtec profits up 11 percent in Q2
02 Aug 2014
(MENAFN) Arabtec, the UAE construction company, reported an 11 percent rise of its profit in the second quarter of 2014, The Peninsula Qatar reported.
Net profit climbed to USD28.1 million in the three months to June 30 from USD25.04 million a year earlier, the company said in a statement.
Revenues jumped 51 percent to USD655.99 million on the back of business growth in the United Arab Emirates and other Gulf markets, said Arabtec.
Second-quarter profit growth slowed from the first quarter; in the first half of this year, net profit rose 55 percent, while revenues rose 45 percent.
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