Dubai – Mubasher: The preliminary financial statements of UAE’s home builder Arabtec Holding showed that the company’s losses for the fourth quarter of 2015 deepened to AED440 million ($119.8 million) from AED113.7 million ($30.96 million) for the year-ago period.
On an annual basis, the company swung to a net loss of AED2.78 billion (AED 0.51 per share) for 2015, against a net profit of AED241.58 million (AED 0.05 per share) in 2014.
The financial statements for the first nine months of 2015 earlier revealed that net losses widened to AED2.34 billion ($637 million), versus a net profit of AED355.3 million ($96.73 million) for the year-ago period.
