Retail investors could be spooked by Arabtec Q1 numbers | GulfNews.com:
"Concerns over the real estate and construction sector could spike again after two listed blue-chip companies — Arabtec and Union Properties — revealed sharp erosion in their first quarter numbers this week. In the case of Arabtec, the market was not expecting it to record a loss, let alone a steep one.
Arabtec was hit by the sharp rise in direct costs, which in the first quarter weighed in at Dh1.93 billion against the Dh1.5 billion a year ago. Plus, the revenue gain was quite marginal, at Dh1.79 billion compared with Dh1.78 in the first quarter of 2014.
Earlier this week, Union Properties recorded an 84 per cent drop in first quarter net profits."
'via Blog this'
No comments:
Post a Comment