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FINANCIAL NEWS
Dubai- DSI sees 47% growth in Q1 profit to USD17.14m
02 May 2013
(MENAFN) Drake & Scull International’s (DSI) CEO, Khaldoun Tabari, announced that the contractor’s first-quarter profit grew by 47 percent from a year ago to USD17.14 million, reported Arabian Business.
The CEO said that quarterly revenues posted an increase of 58 percent from 2012’s same period, reaching USD333.9 million.
Tabari added that Saudi Arabia accounted for 59 percent of the contractor’s consolidated top line growth, while the UAE made up 19 percent, with the two markets remaining DSI’s chief markets during the current year.
Year to date, the company’s total project awards stood at USD544.3 million, in Saudi Arabia, the UAE and Qatar, while as of March 31, total order backlog stood at USD2.449 billion.
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