Dubai builder Arabtec's second quarter net profit fell 74 percent, missing analysts' forecasts as the firm's general and administrative expenses almost doubled.
The largest builder in the United Arab Emirates by market value made a net profit of AED28.9 million (US$7.9 million), compared with a net profit of AED111.1 million in the same period last year, it said in a statement on Dubai's bourse website on Sunday.
Analysts polled by Reuters on average expected the company to report a net profit of AED39.63 million.
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