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FINANCIAL NEWS
Dubai’s Arabtec reports USD3.16m loss in Q2
08 Aug 2012
(MENAFN) Dubai-base developer Arabtec posted USD3.16 million net loss during the second quarter, compared to USD7.9 million profit a year earlier, Reuters reported.
The company also reported USD353.8 million revenue in the quarter, up from USD326.6 million a year earlier.
Arabtec attributed its quarterly losses to higher contract and administrative costs. Contract costs increased to USD326.6 million in the quarter from USD272.2 million, while administrative expenses jumped 62 percent to USD41.97 million.
Arabtec and its partners Turkey’s TAV Insaat and Athens-based Consolidated Contractors Co won a USD2.9 billion contract to construct a terminal at the Abu Dhabi International Airport.
The builder, in which Abu Dhabi state fund Aabar owns 21.6 percent, is expected to secure more contracts from the capital city.
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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