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Arabtec posts Q2 loss over increased costs
- United Arab Emirates: Thursday, August 09 - 2012 at 11:39
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.
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