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FINANCIAL NEWS
Dubai-Arabtec posts turnaround with USD15.5mn profit
12 Aug 2017
(MENAFN) Dubai-based Arabtec Holding, a pioneering construction contractor, posted a major turnaround announcing a net profit of USD15.52mn in the Jan-June period of this year.
Meanwhile, revenue grew to USD1.157bn compared to USD1.132bn in the cited period of last year, up 2 percent year on year.
Furthermore, net profit was USD11.43mn in the cited period of this year, compared with a loss of USD66.16mn in the same period of 2016.
The firm had an order backlog of USD4.74bn in the period of this year compared with USD6.15bn in the same period of 2016.
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