Dubai – Mubasher: Arabtec Holding on Thursday reported a 261% year-on-year hike in net profit for the first quarter of 2018, recording AED 63.6 million from AED 17.6 million.

Revenues grew to AED 2.42 billion in the three-month period ended last March, versus AED 2.18 billion in Q1-17, the company said in a filing to the Dubai Financial Market (DFM).

The Dubai-based builder had previously posted a net profit of AED 123.1 million for the full-year 2017, compared to a net loss of AED 3,409.6 million in the year before.

Sales surged 12% to AED 9,141.1 million last year, versus AED 8,157.7 million a year earlier.