Thursday 17 April 2014
 
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Drake and Scull profit rises 61pc in 2013

Dubai-based Drake and Scull made a net profit of 185 million dirhams ($50.37 million) in 2013, up from 115 million dirhams in 2012, the building contractor said on Thursday. Fourth-quarter profit was 40 million dirhams, according

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Bahrain Airport Company acquires Hochtief JV

Bahrain Airport Company (BAC) said it has taken full control of HOCHTIEF Facility Management Bahrain, its joint venture with the top German construction group, in line with its strategy to boost efficiency of airport’s operations and mai

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Bahrain Airport Company acquires Hochtief JV

Bahrain Airport Company (BAC) said it has taken full control of HOCHTIEF Facility Management Bahrain, its joint venture with the top German construction group, in line with its strategy to boost efficiency of airport’s operations and mai

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Arabtec swings to Q2 profit of $25 million

Dubai's largest contractor Arabtec swung to a profit in the second-quarter of Dh92.4 million ($25.16 million), compared with a loss of Dh11.6 million in the corresponding period in 2012, it said in a bourse statement on Thursday.

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MMG appoints advisor for debt restructuring

Saudi contractor Mohammad Al Mojil Group (MMG) said on Monday it had appointed the investment banking arm of Gulf International Bank to advise it on a restructuring of its debts. No value of the amount of debt being restructured w

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Arabtec reports 20pc rise in Q1 revenue

Dubai-based Arabtec, a major contractor specialising in complex projects, posted a 20 per cent rise in revenue during the first quarter of 2013 to Dh1.55 billion ($421.8 million), driven largely by strong performance in Saudi Arabia and Qatar op

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New Doha airport opening delayed till June

  The opening of the first phase of Qatar's planned $11 billion new airport would be delayed until June next year after a contractor was dropped from the project, Qatar Airways chief executive has said.  

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Drake & Scull Q2 profits slump 42pc

Dubai-based Drake & Scull, a specialist in MEP operations, recorded a net profit of Dh32 million ($8.7 million) for the second quarter (Q2) of the year, marking a 42 per cent drop in net earnings compared to Q2 2011. It also reporte

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Gulf Hotels signs laundry facility deal with Saraya

Bahrain-based Gulf Hotels Group has signed an agreement with Saraya Contractors for the construction of a new laundry facility for the Gulf Hotel, said group chief executive Aqeel Raees. Construction work for the project, for which Moha

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Depa narrows first quarter net loss

Dubai-based interior contractor Depa said its net loss for the first quarter of 2012 has narrowed to Dh8.7 million ($2.36 million) from last year's loss of Dh19.3 million thanks to an impressive order backlog. Announcing the Q1 results

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