Arab Today, arab today dubai’s drakescull posts 22 rise in q2 profits
Last Updated : GMT 02:09:25
Arab Today, arab today
Arab Today, arab today

Dubai’s Drake & Scull posts 22% rise in Q2 profits

Arab Today, arab today

Arab Today, arab today Dubai’s Drake & Scull posts 22% rise in Q2 profits

Dubai - Arabstoday

Dubai-based contractor Drake & Scull International (DSI) on Thursday posted a 22 percent rise in second-quarter net profits to $15m, aided by a slew of overseas contract wins. Revenues increased 79 percent to $201m. The company’s backlog rose by 56 percent against the same period last year to just over $2bn. The company\'s backlog at the end of June was AED7.5bn.The company’s CFO, Osama Hamdan said that the results had been achieved despite “significant administrative costs and set-up costs” during the first half, related to recent acquisitions. “The acquisitions contributed to the growth in revenues, however the transactions incurred to finance and complete the acquisitions affected the net margins respectively,” he said. “Once the acquisitions and expansion costs are fully rendered we expect higher top line and particularly bottom line growth.” Drake, whose biggest market is Saudi Arabia, has been rapidly expanding its operations outside Dubai, where house prices have plunged some 60 percent since their peaks in 2008 as a result of the financial crisis.The company secured $925m worth of projects in the first half from Oman, Egypt, Kuwait, Saudi Arabia, the UAE, Asia and Europe.Its latest contract win was a $46m deal, signed in July, to provide MEP works for a hospital in Abu Dhabi.“We are satisfied with our revenue growth in the MEP and the civil business which recorded a year over year growth of 43% and 376% respectively,” said DSI CEO Khaldoun Tabari, in a company statement.   From / Arabian Business News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dubai’s drakescull posts 22 rise in q2 profits Arab Today, arab today dubai’s drakescull posts 22 rise in q2 profits

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dubai’s drakescull posts 22 rise in q2 profits Arab Today, arab today dubai’s drakescull posts 22 rise in q2 profits

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Egypt tourism revival steady but slow

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 600,000 children may flee to Bangladesh

GMT 06:49 2017 Monday ,18 September

600,000 children may flee to Bangladesh
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 'Severe' Typhoon Doksuri pounds Vietnam

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:45 2017 Sunday ,17 September

France's hurricane-hit St Martin

GMT 21:57 2017 Sunday ,17 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday