Arabtec Holding PJSC (ARTC) 2006 FY annual report

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2006 FY result list | ARTC 2006 FY results - forum topic | Arabtec Holding PJSC - details & pdf annual reports

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AED USD EUR GBP AUD BHD EGP JOD KWD OMR QAR SAR   Precision: 1 2 3
ARTC (listed on DFM)   Auditor:   Deloitte and Touche ME
ARTC accounts in UAE dirhams    
Date of results and share price AED 5.35 on 31 Jan 2007    
Current share price AED 2.20 on 15 Apr 2009    
Chairman HE Sheikh Butti Bin Maktoum Bin Juma Al Maktoum
CEO Riad B Kamal
Balance Sheet (AED) 31 Dec 2005 31 Dec 2006   %Δ   ? notes
Total Assets 1,889,772,715 2,335,068,789 24%
Total Liabilities (1,315,815,865) (1,551,396,644) 18% Includes Minority Interests
Shareholders Equity 573,956,850 783,672,145 37% Excludes Minority Interests
Income Statement (AED) 2005 FY  2006 FY       
Revenue (Sales) 2,565,510,644 2,809,640,076 10% See comments
Cost of Revenues (COGS) (2,333,341,612) (2,452,622,007) 5%
Gross Profit 232,169,032 357,018,069 54%
Other Income 41,940,523 39,886,620 -5%    
Other Expenses (108,252,845) (178,076,351) 65%    
Net Profit 165,856,710 218,828,338 32%  
Minority Interests 0 (1,922,790)      
Net Profit due to shareholders 165,856,710 216,905,548 31%
Earnings Per Share stated 0.32 0.42 31%  
Ratio Calculations As on 31 Jan 2007      
Number of shares outstanding   520,000,000    
EPS calculated 0.32 0.42 31%  
Price to Earnings ratio (PE) 16.8 12.8   Calculated EPS used
Price to Book Value (PBV) 4.8 3.5 -27%  
Return on Assets (ROA) 8.8% 9.3% 6%
Return on Equity (ROE) 28.9% 27.7% -4%
Return on Sales (ROS) or Profit Margin 6.5% 7.7% 19%
Dividends          
Cash Dividend   15%    
Dividend Yield (cash)   2.8%    
Share Dividend   15%    
Important Dates Record Date 16 Apr 2007 AGM Date 09 Apr 2007
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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