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DSI reports profit of Dhs239m for the nine month period ended 30th September 2009

  • United Arab Emirates: Tuesday, November 03 - 2009 at 12:52
  • PRESS RELEASE

Drake & Scull International PJSC (DSI) announced its financial results for the three months ending September 30, 2009. The company reported Dhs71m in net profits while revenues amounted to Dhs400m for the same period.

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  • Khaldoun Tabari, DSI CEO.
    Khaldoun Tabari, DSI CEO.

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In the first three quarters of 2009, ending 30 September, DSI recorded Dhs239 million in profits; a rise of nearly 50% compared with the same period in 2008. For the same period, DSI recorded Dhs1.4bn revenue in 2009 compared to Dhs1bn in 2008.

"With resilient cash flow and abundant liquidity, DSI successfully enhanced profitable returns in the first nine months of the year, despite the slowdown in the construction industry,"


said Khaldoun Tabari, DSI CEO.

The decrease in the company's revenues was primarily a result of reduced productivity due to the mandatory reduction of working hours on projects sites that occurs during the summer period in the construction sector.

"The financial results announced today by DSI are in line with company expectations", Tabari added, "We continue to review expansion opportunities in the region, and achieve sustainable growth and profits for our shareholders."
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Related site: http://www.drakescull.com

Notes and media contacts

About Drake & Scull International PJSC
Drake & Scull International is an integrated end-to-end service provider in the field of electrical and mechanical engineering and has provided innovative solutions to customers since its inception in the UAE in 1966.

Our expertise in mechanical, electrical and plumbing (MEP) contracting spans from providing complete solutions through Design and Build to Engineering, Procurement and Construction (EPC), and civil contracting services across the Emirates as well as maintenance and operations of District Cooling Plants across the Middle East and North Africa.

For further information, please contact:
Drake & Scull International PJSC
Mariana Missakian
Corporate Communications Manager
T: +971 4 8112300

Cicero & Bernay Public Relations
Tariq Al Sharabi
Account Director
T: + 971 4 334 2966
Nadeen El Ajou Posted by Nadeen El Ajou
Tuesday, November 03 - 2009 at 12:52 UAE local time (GMT+4)

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