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FINANCIAL NEWS
Dubai-Arabtec records net loss in Q2
14 Aug 2016
(MENAFN) Dubai-Arabtec recorded a drop in the second quarter net profit, which was attributed to equity holders in the parent of USD50.8mn.
On the other hand, the company made a loss of 718.4mn dirhams in the same period of last year.
Accordingly, it was predicted that the firm would make a quarterly net loss of 83.2mn dirhams.
However, the firm struggled with a tough industry environment as Gulf economies slow and governments restrain spending due to low oil prices.
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