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FINANCIAL NEWS
Drake & Scull posts 32% rise in profit
14 Feb 2010
(MENAFN) Drake & Scull International (DSI) said that its annual profit reached $76.2 million for the calendar year starting January and ending December, marking a year-on-year profit increase of 32 percent, up from $57.7 million in 2008, TradeArabia reported.
The company’s annual revenue totaled $515 million, up from $468 million in 2008, registering a year-on-year rise of 10 percent.
DSI Chief Executive Officer, Khaldoun Tabari, commented that the firm had a positive year, saying that DSI would invest more in its growth strategies and engineering capabilities this year.
The expansion efforts reaped quick results for the firm in 2009, after winning seven contracts valued at a total of $545 million in the GCC, Sudan and Thailand, closing the year with a backlog of $898 million.
It is worth mentioning that Drake & Scull International is in integrated design, engineering and construction disciplines of Mechanical, Electrical and Plumbing (MEP), Civil Contracting, and Water, Power and Infrastructure.
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