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FINANCIAL NEWS
Arabtec registers net loss of USD195.4m in H2
16 Aug 2015
(MENAFN) The UAE based construction giant logged a second quarter net loss of USD195.4 million, with overall revenues declining by 8.1 percent to USD489 million compared to 2014.
First quarter’s revenues stood at USD977 million, a fall of 4.1 percent compared to last year, resulting in a net loss of USD269 million in the first six months.
‘The group has recently taken significant measures to reduce sales, general and administrative costs, implementing an extensive restructuring program,’ the company said.
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