{"id":13090,"date":"2016-05-15T15:20:30","date_gmt":"2016-05-15T08:20:30","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=13090"},"modified":"2016-05-15T13:30:49","modified_gmt":"2016-05-15T06:30:49","slug":"arabtec-reports-dh46m-loss-but-dubai-contractors-financial-performance-improving","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-reports-dh46m-loss-but-dubai-contractors-financial-performance-improving\/","title":{"rendered":"Arabtec reports Dh46m loss, but Dubai contractor's financial performance improving"},"content":{"rendered":"


\nDubai 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 in 2017.Arabtec made a net loss attributable to equity holders in the parent of Dh46.4m in the three months to March 31, it said in a statement. This compared with a loss of Dh279.8m in the corresponding period of 2015.Analysts polled by Reuters had on average forecast Arabtec would make a quarterly net loss of Dh123.6m.The firm’s quarterly revenue was Dh1.94 billion, versus Dh1.79bn a year earlier.The company, whose largest shareholder is Abu Dhabi state-owned fund Aabar, has undergone major upheavals over the past few years, with the departure of its chairman and most senior management, while a much-touted $35.8 billion project to build one million homes in Egypt failed to be agreed.Arabtec’s 2015 net loss was Dh2.35bn in 2015, Reuters data shows.business@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Arabtec reports Dh46m loss, but Dubai contractor’s financial performance improving<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dubai contractor Arabtec reported a narrowing first-quarter net loss on Sunday as revenue rose.The firm...<\/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-13090","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\/p75ss1-3p8","jetpack-related-posts":[{"id":41690,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-adopts-new-risk-management-plan\/","url_meta":{"origin":13090,"position":0},"title":"Arabtec adopts new risk management plan","date":"January 24, 2017","format":false,"excerpt":"\r Arabtec has said that it is adopting a new risk management plan.In a statement to the Dubai Financial Market on Tuesday morning, the Arabtec chief executive Hamish Tyrwhitt said that the company had supported a new group-wide enterprise risk management plan at its board meeting on Monday.Arabtec shares were\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":13090,"position":1},"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":41682,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-adopts-new-risk-management-plan-in-bid-to-cut-costs\/","url_meta":{"origin":13090,"position":2},"title":"Arabtec adopts new risk management plan in bid to cut costs","date":"January 24, 2017","format":false,"excerpt":"\r Arabtec has said that it is adopting a new risk management plan as the company continues to cut costs in the wake of a major restructure.In a statement to the Dubai Financial Market on Tuesday morning, the Arabtec chief executive Hamish Tyrwhitt said that the company had supported a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13138,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-looks-to-shore-up-balance-sheet-as-dubai-contractors-losses-narrow\/","url_meta":{"origin":13090,"position":3},"title":"Arabtec looks to shore up balance sheet as Dubai contractor's losses narrow","date":"May 15, 2016","format":false,"excerpt":"\r The contractor Arabtec has said that it is \"looking at ways to enhance its capital structure\" after posting its sixth successive quarterly loss on Sunday.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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22849,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-still-in-the-red-but-losses-reduced-by-74-per-cent\/","url_meta":{"origin":13090,"position":4},"title":"Arabtec still in the red but losses reduced by 74 per cent","date":"August 14, 2016","format":false,"excerpt":"\r The Dubai contractor Arabtec posted its seventh successive quarterly loss for the three months to June 30, although an increase in revenue has meant the scale of its losses narrowed.The company posted a net loss attributable to its parent company of Dh186.4 million \u2014 a 74 per cent reduction\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43353,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-announces-second-board-meeting-of-the-year\/","url_meta":{"origin":13090,"position":5},"title":"Arabtec announces second board meeting of the year","date":"February 8, 2017","format":false,"excerpt":"\r Arabtec has announced that it will be holding its second board meeting of the year on February 12 to discuss its 2016 results, the UAE's largest listed construction company said in a statement to the Dubai Financial Market this morning. Arabtec's shares were suspended on the DFM on January\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\/13090"}],"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=13090"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/13090\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=13090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=13090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=13090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}