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FINANCIAL NEWS
Drake & Scull posts USD2.17m Q3 profit
16 Nov 2012
(MENAFN) Drake & Scull International (DSI) stated that its third-quarter profits fell to USD2.17 million, compared with USD16.33 million in last year’s same period, reported Arabian Business.
The contractor said that revenues in the 3-month period also declined to USD169.57 million, from USD230.54 million a year ago.
In the January-September period, net income reached USD22.59 million, with total revenues standing at USD571 million.
The Dubai-based firm added that as of September, its order backlog closed at USD2.04 billion, whereas total project awards year to date reached USD734 million.
In the third quarter, DSI won USD200.32 million worth of projects in Iraq’s oil and gas and wastewater treatment sectors.
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