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FINANCIAL NEWS
Dubai’s Depa posts USD11.9m net profit in Q1
03 May 2015
(MENAFN) Depa Ltd, Dubai’s interior fit-out firm, recorded a net profit of USD11.9 million in the first quarter of the year, making a strong return after a year riddled with failures and losses back in 2013, Arabian Business reported.
Depa, the company which undertook the fitting out of Burj Khalifa, made the net profit supported by its 2014’s USD517.31 million revenues recorded in 2014.
The profits came after accumulated losses of about USD35.66 million in 2013. Thereafter, the company has taken more of a selective approach when it comes to agreeing on new signings.
“We have just completed another year of transition, led by a number of changes on the board.” The Chairman of Depa Ltd said in a corporate statement.
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