{"id":4720,"date":"2016-02-14T15:36:14","date_gmt":"2016-02-14T08:36:14","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=4720"},"modified":"2016-02-14T13:58:52","modified_gmt":"2016-02-14T06:58:52","slug":"dubai-contractor-drake-scull-q4-net-profit-jumps-despite-construction-sector-slowdown","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-contractor-drake-scull-q4-net-profit-jumps-despite-construction-sector-slowdown\/","title":{"rendered":"Dubai contractor Drake & Scull Q4 net profit jumps despite construction sector slowdown"},"content":{"rendered":"


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\nDubai’s Drake & Scull (DSI) posted a substantial jump in its fourth-quarter net profit on Sunday, with the contractor’s earnings aided by higher revenue despite a slowdown in the regional construction sector.It posted a net profit of Dh14.7 million in the three months to December 31, compared with a profit of Dh3.8m in the year-earlier period, it said in a statement to Dubai’s bourse.An analyst at SICO Bahrain had forecast the developer would make a quarterly net loss of Dh38.6m.
\n“In the midst of a prolonged slowdown in the regional construction sector, DSI continued to execute its projects on schedule and reported revenue of Dh1.4 billion in Q4 2015 compared to Dh1.1bn reported for the same period last year,” it said in the statement.For 2015, the company posted a net loss of Dh936.8m, against a profit of Dh100.7m in 2014.DSI’s annual results were weighed by a heavy loss in the third quarter after the contractor was forced into significant provisioning.
\nbusiness@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Dubai contractor Drake & Scull Q4 net profit jumps despite construction sector slowdown<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dubai’s Drake & Scull (DSI) posted a substantial jump in its fourth-quarter net profit...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-4720","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-1e8","jetpack-related-posts":[{"id":13092,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-drake-scull-q1-net-profit-falls-61-per-cent\/","url_meta":{"origin":4720,"position":0},"title":"Dubai's Drake & Scull Q1 net profit falls 61 per cent","date":"May 15, 2016","format":false,"excerpt":"\r Dubai's Drake & Scull (DSI) posted a 61 per cent fall in first-quarter net profit on Sunday, extending an earnings slump as its revenue declined.The contractor made a net profit attributable to shareholders of Dh9.8 million in the three months to March 31, it said in a statement. This\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4726,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-contractor-drake-scull-reports-dh936-million-loss-for-2015\/","url_meta":{"origin":4720,"position":1},"title":"Dubai contractor Drake & Scull reports Dh936 million loss for 2015","date":"February 14, 2016","format":false,"excerpt":"\r \r Dubai-based contractor Drake & Scull reported a Dh936.8 million loss for 2015, which it blamed on the \"unprecendent measures\" it had to take in the third quarter, where it was forced to make Dh984m in provisions relating to an continuing contractual dispute in Saudi Arabia.The company said that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22943,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-drake-scull-blames-cancelled-contracts-and-tough-saudi-market-for-second-quarter-loss\/","url_meta":{"origin":4720,"position":2},"title":"Dubai's Drake & Scull blames cancelled contracts and tough Saudi market for second quarter loss","date":"August 15, 2016","format":false,"excerpt":"\r Drake & Scull International (DSI) slipped to a loss of Dh207.6 million during the second quarter of 2016 (Q2 2015: Dh6.1m profit) as revenue dropped by 37 per cent year-on-year to Dh805m.The Dubai-based contractor blamed \"contract cancellations and additional one-off provisions\" for its plight, stating that the majority of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29341,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/drake-scull-appoints-new-chief-executive\/","url_meta":{"origin":4720,"position":3},"title":"Drake & Scull appoints new chief executive","date":"October 10, 2016","format":false,"excerpt":"\r Khaldoun Tabari, the longstanding leader of Drake & Scull International is to stand down as chief executive the company said this morning.Mr Tabari, who bought a majority stake in the UAE based international arm of UK construction company Drake & Scull in 1988 and purchased the remaining stake a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23687,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/drake-scull-international-shares-fall-sharply-in-dubai-as-it-reviews-business-activities\/","url_meta":{"origin":4720,"position":4},"title":"Drake & Scull International shares fall sharply in Dubai as it reviews business activities","date":"August 23, 2016","format":false,"excerpt":"\r Shares in Drake & Scull International (DSI) opened sharply lower on Tuesday morning, after the construction firm said it was reviewing business activities and seeking strategic investors after slipping into the red during the second quarter.DSI shares opened more than 2 per cent lower, after Reuters reported that the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":44119,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/contractor-drake-scull-to-raise-capital-after-loss\/","url_meta":{"origin":4720,"position":5},"title":"Contractor Drake & Scull to raise capital after loss","date":"February 14, 2017","format":false,"excerpt":"\r Drake & Scull International has become the second Dubai contractor in as many days to announce a capital raising after the company reported a Dh786.9 million loss for 2016.The company, which specialises in mechanical, electrical and plumbing work, said it had secured a commitment from Dubai-based investment bank Tabarak\u2026","rel":"","context":"In "Property 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