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Arabtec profit hikes 97% in H1

Arabtec profit hikes 97% in H1
EPS amounted to AED 0.08 in H1-18
Arabtec Holding
ARTC
-4.93% 0.56 -0.03

Dubai – Mubasher: Arabtec Holding on Thursday reported a 96.9% year-on-year surge in net profit for the first half of 2018.

The company logged AED 113 million in profits for the six-month period ended June, compared to AED 57 million in the year-ago period, according to a filing to the Dubai Financial Market (DFM).

Revenues rose by 13.35% to AED 4.8 billion at the end of June, versus AED 4.2 billion in H1-17.

Earnings per share (EPS) amounted to AED 0.08 in H1-18, compared to AED 0.07 in the same period a year earlier.

In the second quarter of 2018, the DFM-listed company generated AED 49.36 million in net profits, versus AED 40.8 million in the corresponding period of 2017.

The company achieved revenue of AED 2.4 billion in the three-month period ended June, up from AED 2.06 billion in Q2-17.

Arabtec previously posted a 261% year-on-year hike in net profit for Q1-18, recording AED 63.6 million from AED 17.6 million.