65 per cent profit growth of Arabtec Holding PJSC for the first quarter of 2007

Arabtec consolidated revenue during the first quarter of 2007 reached AED 837 million compared to AED 647 million during the same period of 2006, an increase of 29%.

Commenting on the results, Sheikh Butti Bin Maktoum Bin Juma Al Maktoum, Chairman of Arabtec Holding PJSC stated: "we predict that Arabtec's consolidated revenue will witness a growth in excess of 25% during 2007 to reach AED 3.5 Billion; a process backed by executing various contracts by Arabtec subsidiaries".

Riad Kamal, the Managing Director of Arabtec Holding PJSC stated: "The contracts that Arabtec signed during the last year contributed in increasing revenues and improving profit margins". He added: "Arabtec is pursuing its strategy to diversify geographically, where it has started executing projects in Qatar and Pakistan. It is also planning to move into Syria, Jordan and India".

In regard to diversifying projects portfolio to include non residential projects, Kamal said: "Arabtec has been awarded the Passenger Terminal Structural Works, Air Traffic Control Tower, Cargo Terminal and storm water drainage & sewerage system in Dubai World Central at Jabel Ali International Airport. It also signed two Contracts with Dubai Sports City (DSC) to carryout two stadia. The works include the design and construction of a 60,000 spectators Multipurpose Outdoor Stadium, and the construction of a 10,000 spectators Multipurpose Indoor Stadium at Dubai Sports City".