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Arabtec’s stock slips 5% on Q1 financial results

Arabtec’s stock slips 5% on Q1 financial results
By 12:20 pm Dubai time, the stock dropped 4.87%
Arabtec Holding
ARTC
2.45% 1.67 0.04

Dubai – Mubasher: Arabtec Holding’s stock has fallen during Wednesday’s trading session, in line with the company's announcement of its weak financial results for the first quarter of 2019.

By 12:20 pm Dubai time, the stock dropped 4.87% to AED 1.76 with a turnover of AED 1.73 million.

It is worth noting that Arabtec’s net profit declined to AED 30.18 million in Q1-19 from AED 65.84 million in Q1-18.

Revenue fell by 16% to AED 2.027 billion in Q1-19, from AED 2.42 billion in the year-ago period.