Real estate related news and press releases covering MENA region.
Arabtec posts Q2 loss over increased costs
Aug 09, 2012
The UAE's largest construction firm by market value, Arabtec Holding Co has reported a second-quarter loss, missing analysts' estimates, as costs and expenses increased, Bloomberg has reported. The loss attributable to owners of the parent was Dhs11.6m after a profit of Dhs29m a year earlier, Arabtec said. Contract costs increased to Dhs1.19bn in the second quarter from Dhs1.08bn a year earlier, while administrative expenses rose to Dhs154.2m from Dhs95m. Revenue climbed to Dhs1.32bn from Dhs1.22bn, it said.