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FINANCIAL NEWS
Dubai-Arabtec Co. net profit drops at USD 12.63mn
15 May 2016
(MENAFN) Dubai’s Arabtec posted a narrowing Q1 net loss as revenue increased, while it had reported losses in the preceding five quarters.
Furthermore, the decline was attributed to increasing costs and tough market conditions, which reached USD 12.63mn in the cited quarter.
On the other side, last year the firm posted a decline of USD 76.17mn, while its quarterly income touched USD 0.52bn, against USD 0.48bn.
In addition, the firm has undergone main upheavals amid the past few years, which reached USD 35.8bn project to build one million homes in Egypt.
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