Profiteering off the region: Arabtec posts triple digit growth!

Published March 18th, 2014 - 11:27 GMT
A string of major project wins in the UAE, strategic expansions into new markets and timely acquisitions enabled construction major Arabtec to record a triple-digit growth rate (149 per cent over 2012) in net income for 2013.
A string of major project wins in the UAE, strategic expansions into new markets and timely acquisitions enabled construction major Arabtec to record a triple-digit growth rate (149 per cent over 2012) in net income for 2013.

A string of major project wins in the UAE, strategic expansions into new markets and timely acquisitions enabled construction major Arabtec to record a triple-digit growth rate (149 per cent over 2012) in net income for 2013.

The final total came to Dh468 million (Dh188 million in 2012) on revenues that were up 30 per cent to Dh7.4 billion (Dh5.66 billion in 2012).

The company’s board has given the go-ahead for a 40 per cent dividend. (This will be distributed as bonus share dividends at 30 per cent of share capital at par value, being 1 bonus share for each 3.3 shares held; in addition to cash dividends of Dh0.1 per share, or 10 per cent cash dividends.) The Arabtec scrip was particularly active in recent days. The share closed 2.52 per cent higher to Dh5.28.

The full-year income attributable to the “parent company” will be Dh377.77 million, from Dh129 million in 2012.


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