Drake and Scull Q4 profit flat
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Drake and Scull Q4 profit flat

Drake and Scull Q4 profit flat

Dubai-based Drake and Scull International has posted a fourth quarter net profit of Dhs41m ($11.16m), unchanged from figures recorded in the same period in 2009, Reuters has reported. "The severe competition in the industry, in addition to the significant costs we incurred to complete our acquisitions and expansion plans, contracted yearly profit margins and restrained bottom line growth," DSI's chief executive Khaldoun Tabari said. Net profit for the year fell to Dhs162m from Dhs280m in 2009.

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