Drake & Scull posts Dh71m profit

Drake & Scull International PJSC (DSI) on Monday reported a net profit of Dh71 million while revenues amounted to Dh400 million for the third quarter ending September 30.

In the first three quarters of 2009, DSI earned Dh239 million in profits — a rise of nearly 50 per cent compared with the same period in 2008. For the same period, DSI recorded Dh1.4 billion revenue in 2009 compared to Dh1 billion in 2008.

“With resilient cash flow and abundant liquidity, DSI successfully enhanced profitable returns in the first nine months of the year,” said CEO Khaldoun Tabari.

The decrease in the company’s revenues was primarily a result of reduced productivity due to mandatory reduction in working hours.