Arabtec looks to shore up balance sheet as Dubai contractor’s losses narrow | The National:
"The contractor Arabtec has said that it is “looking at ways to enhance its capital structure" after posting its sixth successive quarterly loss yesterday.
The company said it “is currently engaged in discussions with Aabar, its largest shareholder, in respect of potential options for cooperation and continues to remain in dialogue with its major lending banks" about its capital position.
It announced a Dh46.4 million loss for the first three months of this year – an 83 per cent reduction on the Dh279.8m loss the company declared in the same period a year ago. Revenue increased by 8 per cent year-on-year to Dh1.94 billion. Last month, Arabtec reportedly appointed the US restructuring adviser Alix Partners."
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