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FINANCIAL NEWS
GIS profit to hit USD247m in 2014 after buyout
29 Apr 2014
(MENAFN) The Gulf Drilling International (GDI) future earnings are expected to grow strongly after Gulf International Services (GIS) completed the 30-percent acquisition previously held by Japan Drilling Company, The Peninsula Qatar reported.
Chief Coordinator of GIS said that the future earnings of GIS are expected to grow strongly and the company’s shareholders are expected to gain from the transaction with GIS’s share of GDI’s results increasing from 70 percent to 100 percent.
Consolidated revenue of the GIS group is now projected to hit USD960 million, while profits are projected to reach USD246.99 million in the current year.
Qatar’s largest service group, GLS, announced the completion of the acquisition, with expectations to contribute USD348 million and USD41.1 million of revenue and net profit, respectively, on account of the acquisition.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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