Comments about Arabtec Holding PJSC FY 2006 results
Update: Note that results for 2005 FY are for more than a full year - from 20 September 2004 (date of commencement) to 31 December 2005, so percentage changes are somewhat distorted.
Results released to press on 22 Jan 2007 but did not appear on SCA or DFM sites until 01 Feb 2007. Fax submissions dated 31 Jan 2007. Share price used is from 01 Feb 2007 so any surprises in results were priced in a week before - share price rose pre-result announcement and fell sharply a few days later on 28 Jan 2007.
Operating Profit is up by 50% so why only a 30% increase in Net Profit? Possibly some capital expenditure - Total Assets was up by 24%.
Return on Sales has increased which is good but is still only 8%, seems rather low. However Return on Equity is a more healthy looking 27% - it fell slightly in 2006 since there was a substantial increase in Shareholder's Equity.
Annual general Meeting location Morooj Rotana Hotel, Dubai, UAE at 1630. If no quorum then AGM date will be 16 April 2007 - same time/location. Record Date stated as "closing date" in ARTC advertisement Gulf News 26 Mar 2007. Could be interpreted as Last Trading Day for dividend eligibility.
Have your say in the ARTC 2006 FY results forum topic, includes directors reports and news, if available.
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