Arabtec Holding's H1 net profit surges 97%, revenues up | ZAWYA MENA Edition

Arabtec Holding's H1 net profit surges 97%, revenues up | ZAWYA MENA Edition:

Arabtec Holding, a leading construction company in the Middle East, has registered a 97 per cent jump in its net profit for the first half which rose to Dh113 million ($31 million) from last year's Dh57.4 million ($15.6 million).

Announcing the results for the six-month period ended June 30, Arabtec Holding said the revenue increased by 13.3 per cent to Dh4.8 billion from last year's figure of Dh4.2 billion. The group's backlog stood at Dh16.1 billion, supported by Dh34.6 billion of tenders submitted or under preparation.

A leading contractor for social and economic infrastructure, Arabtec said this was the group's sixth consecutive quarter of profitability.