Dubai’s Arabtec’s Q1 profit halves

Dubai Financial Market-listed contractor Arabtec Holding reported net profit of AED 31.8 million for Q1 2019, down 50 percent compared to AED 63.6 million a year earlier, on account of fewer number of new contracts.

Revenue for the same period declined 16 per cent to AED 2 billion from AED 2.4 billion a year-earlier, the company said in a statement to DFM.

The earnings per share too declined by 50 percent year on year from AED 0.042 to AED 0.02