Getting Worse...
Arabtec recorded a 12% decline in FY 2015 consolidated sales (compared to 2014) which amounted to AED7.3bn. The annual net profit has decreased sharply to AED-2.258bn (compared to AED215M in 2014). This was mainly due to the tough environment that the regional construction sector has been facing. Nevertheless, Arabtec continues the implementation of its restructuring and cost reduction programme, and aims to reduce its costs even further in 2016. The group is currently working on the full recovery of receivables.
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