{"id":11028,"date":"2016-04-20T23:58:30","date_gmt":"2016-04-20T16:58:30","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=11028"},"modified":"2016-04-20T23:04:20","modified_gmt":"2016-04-20T16:04:20","slug":"arabtec-may-break-even-this-year-and-return-to-profit-in-2017-says-chairman","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-may-break-even-this-year-and-return-to-profit-in-2017-says-chairman\/","title":{"rendered":"Arabtec may break even this year and return to profit in 2017, says chairman"},"content":{"rendered":"


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\nLoss-making Dubai contractor Arabtec may break even in 2016 and should return to profit the following year, the company’s chairman said on Wednesday.Arabtec made a loss of Dh2.35 billion in 2015, which it blamed on rising costs and tough market conditions, with the Gulf construction sector entering a marked slowdown as the slump in oil prices led governments to rein in spending.”2015 was a severe year, 2016 is still tough. I am confident of 2017, that’s when I see (profit),” Mohamed Al Rumaithi told reporters on the sidelines of the company’s annual shareholder meeting when asked when the company would return to profitability.
\n“For 2016, maybe we will break even,” he said when asked if that meant the company would make another annual loss this year.business@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Arabtec may break even this year and return to profit in 2017, says chairman<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Loss-making Dubai contractor Arabtec may break even in 2016 and should return to profit...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-11028","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-2RS","jetpack-related-posts":[{"id":11026,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-may-break-even-this-year-return-to-profit-in-2017-says-chairman\/","url_meta":{"origin":11028,"position":0},"title":"Arabtec may break even this year, return to profit in 2017, says chairman","date":"April 20, 2016","format":false,"excerpt":"\r \r Loss-making Dubai contractor Arabtec may break even in 2016 and should return to profit the following year, the company's chairman said on Wednesday.Arabtec made a loss of Dh2.35 billion in 2015, which it blamed on rising costs and tough market conditions, with the Gulf construction sector entering a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13090,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-reports-dh46m-loss-but-dubai-contractors-financial-performance-improving\/","url_meta":{"origin":11028,"position":1},"title":"Arabtec reports Dh46m loss, but Dubai contractor's financial performance improving","date":"May 15, 2016","format":false,"excerpt":"\r Dubai contractor Arabtec reported a narrowing first-quarter net loss on Sunday as revenue rose.The firm had reported losses in the preceding five quarters, which it blamed on increased costs and tough market conditions. In April, its chairman said Arabtec could break even this year and should return to profit\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5340,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-contractor-arabtec-announces-loss-of-dh2-3-billion-for-2015\/","url_meta":{"origin":11028,"position":2},"title":"Dubai contractor Arabtec announces loss of Dh2.3 billion for 2015","date":"February 21, 2016","format":false,"excerpt":"\r \r The Dubai contractor Arabtec has this morning announced a full-year loss of Dh2.3 billion.It said in a statement to the Dubai Financial Market that revenues of Dh7.3bn were down 12 per cent from Dh8.3bn in 2014, and its full year results compared with a profit of Dh215 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43923,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-in-dh1-5bn-rights-issue-as-full-year-losses-widen\/","url_meta":{"origin":11028,"position":3},"title":"Arabtec in Dh1.5bn rights issue as full year losses widen","date":"February 13, 2017","format":false,"excerpt":"\r Arabtec has announced a Dh1.5 billion rights issue in an attempt to pull the beleaguered Burj Khalifa builder out of the red after the company announced widening annual losses on Monday morning.In a statement to the Dubai Financial Market Arabtec said it was planning its second offering in three\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53712,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-arabtec-reports-first-profit-since-2014-after-restructuring\/","url_meta":{"origin":11028,"position":4},"title":"Dubai's Arabtec reports first profit since 2014 after restructuring","date":"May 4, 2017","format":false,"excerpt":"\r Arabtec posted its first quarterly since 2014 as the contractor's new management press ahead with a high stakes turnaround plan.The Burj Khalifa builder said net profit for the first three months of 2017 stood at Dh18 million - the company's first quarterly profit since the third quarter of 2014.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43937,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-in-dh1-5bn-rights-issue-as-full-year-losses-widen-amid-weak-construction-market-in-gulf\/","url_meta":{"origin":11028,"position":5},"title":"Arabtec in Dh1.5bn rights issue as full year losses widen amid weak construction market in Gulf","date":"February 13, 2017","format":false,"excerpt":"\r Arabtec has announced a Dh1.5 billion rights issue in an attempt to pull the beleaguered Burj Khalifa builder out of the red after the company announced widening annual losses on Monday morning.In a statement to the Dubai Financial Market Arabtec said it was planning its second offering in three\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/11028"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=11028"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/11028\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=11028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=11028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=11028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}