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FINANCIAL NEWS
Arabtec revenue jumps to 11pct in Q1
05 May 2017
(MENAFN) Arabtec Holding, a pioneering contractor for social and economic infrastructure has recorded its first quarterly profit in the last three years.
Moreover, the firm posted revenue of USD598.83mn, up 11 percent compared to Dh2bn in the first quarter of last year, while its gross profit too enhanced by Dh52mn to Dh91mn.
Additionally, gross margin grew to 4 percent compared to the last year’s 2 percent, whereas net profit attributable to the parent grew by Dh64mn to Dh18mn.
Accordingly, this initial step reinforces its commitment to returning the firm to profitability and solidifies its strategic roadmap to achieving sustainability.
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MENAFN0505201700450000ID1095453157
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