Dubai – Mubasher: The UAE-based, Arabtec Holding on Wednesday turned to profits in the third quarter of 2017, against suffering losses in the year-ago period.
The company’s profits reached AED 10.24 million ($2.78 million) in Q3-17, against losses of AED 281.13 million ($76.52 million) in Q3-16, according to a bourse statement.
Year-on-year, revenues went up 5.6% to AED 2.099 billion, from AED 1.98 billion.
The firm’s administrative and general expenses slid 27.3% to reach AED 80.69 million in Q3-17, compared to AED 111.01 million in the same period in the year before.
At the level of the first nine months of 2017, Arabtec turned to profits after achieving AED 52.18 million, against losses of AED 523.92 million in the corresponding period in the year earlier.
