Arab Technical Construction Company PJSC achieves profit of AED 95 million during the first nine months of 2005

The consolidated financial statements mainly shows Arabtec LLC results with a net profit of Dh 95 Million for the first nine months of 2005 versus Dh 50.6 Million for the same period of 2004, representing an increase of 88%. Revenues touched Dh 1,848 Million for the first nine months of 2005 versus Dh 909 Million for the same period of 2004, an increase of 103%.

Mr. Riad Kamal, Managing Director of Arab Technical Construction Company PJSC stated, "The Company benefited from the economic boom in the United Arab Emirates and resumed the growth witnessed in the first and second quarters. The third quarter also witnessed significant developments which will enhance the financial results, as Arabtec signed contracts worth Dh1.3 billion to execute projects at Arabian Ranches and Dubai Financial Centre with an estimated construction period of 14-22 months."

Mr. Riad Kamal stated that inline with Arab Technical Construction Company's long term strategy in diversifying its sources of income, it has utilized its available cash to acquire the shares of the Jebel Ali based Austrian Arabian Ready Mix Co. LLC, and became the new owner as of 24 September 2005. The daily production capacity of Austrian Arabian is approximately 3,000 cubic meters of ready mix with the capability of doubling the production by adding production equipment."

He added that the financial results reflect Arabtec's strength and capability to generate better returns and enhance the company's financial position. Arab Technical Construction Company is expanding by diversifying its revenue sources as part of an ambitious strategy based on utilizing its resources and exploring market opportunities to fulfill investors' needs.