UAE鈥檚 largest builder made a net profit of 拢6.6m in the three months to 30 September
The United Arab Emirates鈥� largest builder Arabtec posted a fivefold surge in profit in the third quarter, as it targets opportunities outside its recession-hit home market
Arabtec made a net profit of AED39.1m (拢6.6m) over the three month period ending 30 September.
But revenue dropped over the period from last year, from AED1.3bn (拢220m) to AED1.1bn (拢190m).
The contractor has been expanding overseas to target markets outside its home market of Dubai, after the real estate collapse in the emirate.
Earlier this month, Arabtec said it won an AED750m (拢127m) residential contract in India.
The company is aiming to more than double its workforce in Saudi Arabia to 25,000 as part of its international expansion efforts.
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