FINANCIAL NEWS

Dubai’s Arabtec registers USD25.7 loss in Q4

22 Mar 2015

(MENAFN) Arabtec, Dubai’s largest construction firm, registered a net loss of USD25.7 million in the fourth quarter of 2014, Reuters reported.

The builder reported a net profit attributable to shareholders of USD58.40 million for full-year 2014 versus USD102.82 million in 2013.

The company did not provide quarterly figures, but according to Reuters, the company swung to a fourth-quarter loss from a USD33.23 million profit in the prior-year period.

The company plans to rent out some of its office space at the World Trade Centre in Abu Dhabi to boost revenues, space which was not used in the last two years.

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