Dubai builder Arabtec swings to Q4 loss

Abu Dhabi

DUBAI's largest construction firm, Arabtec, swung to a net loss of 67.4 million dirhams (S$25.27 million) in the fourth quarter of last year, missing analysts' estimates as high costs weighed on its bottom line.

The builder, in which Abu Dhabi state fund Aabar Investments owns a 36.11 per cent stake, on Sunday reported a net profit of 241.6 million dirhams for full-year 2014 versus 468.3 million dirhams in 2013.