Arabtec consolidated third-quarter profit tops Dh761m

Dubai: Arabtec Holding PJSC has achieved a consolidated profit of Dh761 million for the first three quarters of 2008, compared to Dh343 million achieved during the corresponding period in 2007, an impressive increase of 122 per cent.

The company also announced that the group consolidated revenue, for the same period have increased to Dh6.4 billion compared to Dh2.8 billion registered in the first three quarters of 2007, an increase of 129 per cent.

Arabtec Holding's CEO Riad Kamal stated: "The increase in Arabtec Holding's profit is due to the increase in the consolidated revenue and maintaining the net profit percentage. This has resulted from the careful expansion strategy implemented by Arabtec and the selected acquisitions completed which focused on complementing our expertise. It was also due to proper integration of our large scale operations and managing efficiently the large resources required for our successful construction activities."