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FINANCIAL NEWS
Dubai’s Drake & Scull net profit down 10 percent in Q3
16 Nov 2014
(MENAFN) Dubai’s Drake & Scull (DSI) said that it has registered a decline in its net profit by 10 percent during the July-September period of this year, Gulf Business reported.
During the third quarter of this year, the contractors registered a net profit of USD5.83 million compared with USD6.47 million registered in the corresponding period of last year, while its revenue reached USD337.50 million, an increase compared with USD270.81 million during the same period in 2013.
“Operating cash flow remains stretched until we finalize our negotiations on the large claim and variations orders with some of our major clients in Saudi Arabia,” DSI’s Chief Financial Officer said in the statement.
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