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FINANCIAL NEWS
UAE’s Arabtec net loss hits USD277m in Q3
11 Nov 2015
(MENAFN) Emeriti to real estate developer, Arabtec registered USD277.6 million in gross losses for the three months to September timeframe, based on reports.
Additionally, this reported figure marks a substantial deterioration from the high USD24.4 million gross profits reported at last year’s corresponding period.
Generally, the Dubai-based firm logged losses amounting to USD626 million through the first nine months compared to USD96 million in profits last year.
As far as its overall income is concerned, it declined to USD435.5 million in the July-Sept period, plunging severely from last year’s recorded USD571.6 million.
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