{"id":5340,"date":"2016-02-21T15:42:10","date_gmt":"2016-02-21T08:42:10","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=5340"},"modified":"2016-02-21T13:03:13","modified_gmt":"2016-02-21T06:03:13","slug":"dubai-contractor-arabtec-announces-loss-of-dh2-3-billion-for-2015","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-contractor-arabtec-announces-loss-of-dh2-3-billion-for-2015\/","title":{"rendered":"Dubai contractor Arabtec announces loss of Dh2.3 billion for 2015"},"content":{"rendered":"


\n
\nThe 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 in the previous 12 months.The company’s loss per share was Dh0.51, compared with earnings per share of Dh0.05 in 2014, it said.
\n“The reduction in revenue and resulting net loss for the 2015 fiscal year was primarily a consequence of the continuing difficult environment that the regional construction market is facing and the challenging economic backdrop, the company’s more balanced approach to revenue, cost and profit recognition, in addition to a number of poorly performing projects,” the Arabtec statement said.More to follow.
\nbusiness@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Dubai contractor Arabtec announces loss of Dh2.3 billion for 2015<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Dubai contractor Arabtec has this morning announced a full-year loss of Dh2.3 billion.It...<\/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-5340","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\/p75ss1-1o8","jetpack-related-posts":[{"id":13090,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-reports-dh46m-loss-but-dubai-contractors-financial-performance-improving\/","url_meta":{"origin":5340,"position":0},"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":41690,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-adopts-new-risk-management-plan\/","url_meta":{"origin":5340,"position":1},"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":5366,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-builder-arabtec-to-be-more-selective-in-taking-on-work\/","url_meta":{"origin":5340,"position":2},"title":"Dubai builder Arabtec to be more selective in taking on work","date":"February 21, 2016","format":false,"excerpt":"\r \r UAE contractor Arabtec is adopting \"a more selective approach to project tendering\" after declaring a preliminary loss of Dh2.3 billion in 2015, which it blamed on a difficult regional construction market and a number of poorly performing projects.Saeed Al Mehairbi, the chief executive of Arabtec, said that the\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":5340,"position":3},"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":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":5340,"position":4},"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":11028,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-may-break-even-this-year-and-return-to-profit-in-2017-says-chairman\/","url_meta":{"origin":5340,"position":5},"title":"Arabtec may break even this year and 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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/5340"}],"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=5340"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/5340\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=5340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=5340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=5340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}