gulfnews : Arabtec profit surges as growth continues abroad

Arabtec's third quarter net profit surged more than fivefold, beating analysts' forecasts, while revenues dipped slightly from the same period last year.

The largest builder in the United Arab Emirates by market value made a net profit of Dh39.1 million ($10.6 million) for the third quarter, it said in a statement on Dubai's bourse website yesterday.

The firm, which has been expanding rapidly overseas to diversify its portfolio from its home market in Dubai, made a net profit of Dh6.8 million in the third quarter last year.

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