Arabtec's consolidated revenue during the first nine months of 2007 reached Dhs2.9bn compared to Dhs2bn during the same period of 2006.
Commenting on the results, Riad Kamal, the CEO of Arabtec Holding PJSC stated: "Arabtec continues improving its profit benefiting from its large scale, business integration, improved profit margin of current projects and projects diversification. Arabtec's projects portfolio include: High Rise Developments, Residential Complexes, Office Blocks, Hotels, Commercial Projects, Major Airport Developments (Terminals, Lounges, Air Traffic Control Towers), Stadiums, Drainage & Sewage Treatment works".
He added: "Profitability of Arabtec subsidiaries and affiliates has improved and significantly impacted the consolidated profitability. Subsidiaries and affiliates include Austrian Arabian Ready Mix, Emirates Falcon Electromechanical Company - EFECO, Arabtec Engineering Services and House of Equipment".
Arabtec currently has a backlog of Dhs13bn programmed for completion during the next three years."
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Dhs343m profit of Arabtec Holding PJSC for the first nine months of 2007
- United Arab Emirates: Monday, October 29 - 2007 at 14:36
- PRESS RELEASE
Arabtec Holding PJSC has achieved a consolidated profit of Dhs343m in the first nine months of 2007 compared to Dhs159m for the same period last year, an increase of 116%.
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For further information, please contact:Mariam Keblawi
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Tel: 5737018 -06
Fax: 5737019 -06
Posted by Anne-Birte Stensgaard, Senior News EditorMonday, October 29 - 2007 at 14:36 UAE local time (GMT+4)
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This article was updated on Wed Mar 05 2008.
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