Arabtec reports Dh505 million first half profit

Dubai: Arabtec Holding PJSC has reported a consolidated profit of Dh505 million for the first half of 2008, up 191 per cent compared to Dh173 million achieved during the corresponding period in 2007.

The company also announced that the Group's consolidated revenue increased to Dh 4.1 billion, compared to Dh 1.7 billion in the first half 2007.

"The increase in Arabtec Holding profit is due to the increase in the consolidated revenue and net profit percentage," Arabtec Holding's CEO, Riad Kamal, said in a statement.

"This resulted from the expansion strategy implemented by Arabtec and acquisitions which focused on proper integration for large scale operations and managing all resources required for construction activities including human, machinery and technical resources," Kamal added.