Thursday, 25 December 2008

Arabtec Holding predicts impressive full year

Arabtec, a UAE construction firm, predicted a net profit of $272.3 million and announced a one for one bonus issue (in lieu of a dividend). This represents an 87 per cent above last years figure. The gloomy talk about the credit crunch, however, saw the shares fall 9.93 per cent on Tuesday before rebounding 14% today.

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