According to Arabia Net, Arabtec losses in the fourth quarter of last year amounted to 394.9 million dirhams.
Arabtec announced the resignation of Adel Al-Wahidi, the group's chief financial officer.
Losses amounted to 51.6 fils per share at the end of 2019.
The shift in losses is due to a 21% decrease in revenues to 7.78 billion dirhams in 2019, compared to 9.85 billion dirhams during the year before.
Assets decreased by 5.08% to 10.47 billion dirhams at the end of last year, compared to 11.03 billion dirhams in the year before last.
During the third quarter of 2019, the company announced its loss conversion, and also incurred losses in the first 9 months of 2019, in exchange for profits for the same period in 2018.
Arabtec fell 3.3% in trading on Sunday, after disclosing the losses, bringing the share price to 0.73 dirhams.
