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FINANCIAL NEWS
Dubai’s Arabtec profit more than tripled in Q4
19 Mar 2014
(MENAFN) Dubai builder Arabtec has reported a tripled net profit in the fourth quarter of 2013 on the back of the significant growth in its key markets in Saudi Arabia and the UAE, according to Arabian Business.
The company’s net profit reached USD33 million during the three-month period compared to USD8.71 million during the same quarter in 2012.
Hasan Ismaik, the chief executive of Arabtec said: “Since the start of 2014, our company’s subsidiaries have been selected to execute a series of new projects, with a total value of AED180 billion, which gives us visibility on our earnings growth for many years to come.”
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