Gross profit reported at AED 101mn and operating profit reported at AED 45mn
Drake & Scull International (DSI) recently reported its Q1-2018 results. The overall revenue in the first quarter stood at AED 693mn, as compared to AED 796mn achieved in Q1 2017.
Meanwhile, the company achieved an overall net profit of AED 7m for the same period, as compared to the net loss of AED 839mn declared during Q1-2017. The company also reported a Q1-2018 gross profit of AED 101mn as compared to the gross loss of AED 49mn reported during Q1-2017, as well as a Q1-2018 operating profit of AED 45mn versus an operating loss of AED 812mn reported during Q1-2017.
DSI’s total project backlog stood at AED 5.4bn, supported by the AED 305mn worth of projects secured primarily in the home market (UAE) since January 2018.
The company attributes the improved results to the positive momentum achieved during the first quarter.
“We will continue to leverage the synergies across our operating segments to improve our operating performance by reducing our overheads and by recalibrating our services portfolio to drive margin accretion,” commented Rabih Abou Diwan, Investor Relations Director in a press statement.
