Dubai PR Network, Online Press Release from Dubai and Middle East
 
Trade & Commercial(Others)
Filter PR by
  
DSI Announces Unaudited Preliminary Q4 2017 Results
 

Q4 2017 Highlights

• Q4 2017 Revenues increases 11% to AED 656 Million compared to Q3 2017

• Company returns to Profitability and records AED 0.7 Million of Net Profit for Q4 2017 compared to a Net Loss of AED 359 Million recorded in Q3 2017

• Total Projects Backlog stands at AED 5.5 Billion as of December 31st 2017

• New project awards valued at AED 494 Million secured during FY 2017

Dubai, UAE – February 14, 2018 – Drake & Scull International PJSC (“DSI” or the “Company”), a regional leader in engineering and construction services, reported today the preliminary unaudited financial results for Q4 2017.

Projects performance picked up momentum during Q4 2017 with the overall quarterly revenue increasing 11% to AED 656 Million compared to the preceding quarter (Q3 2017). The Company returned to profitability and reported a Net Profit of AED 0.7 Million for Q4 2017 compared to a Net Loss of AED 359 Million recorded in Q3 2017.

DSI’s total projects backlog stood at AED 5.5 Billion, supported by AED 494 million worth of new projects in the MEP and Water Treatment sectors secured in the UAE and KSA during the fiscal year.

DSI management continues to lay the foundation for an improved and sustained operational and fiscal performance, with a renewed focus on DSI’s core MEP business in its key markets (UAE and KSA). 

The Company remains committed towards the realization of the recovery objectives set forth by the new leadership team appointed in Q4 2017 to steer the company back to recovery and growth. Several organizational restructuring initiatives were executed in the quarter to streamline operations, reduce cost and improve efficiency. The Company continues with its operational review across key markets and is undertaking key measures to mitigate contingent exposure of legacy projects.

The Group is also accelerating projects bidding in key markets across all sectors and is undertaking several proactive measures to regain market share and restore its leadership in the region. 


Posted by : Dubai PR Network Editorial Team
Viewed 4746 times
PR Category : Others
Posted on : Wednesday, February 14, 2018  5:10:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Brazilian delegation visits UAE to enhance agribusiness trad...
Next Story : Voting for Superbrands 2018 has commenced
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Grand Mall Opens the 52nd Outlet in Al Musallah - Sharjah [12261-Views]
Eid- Al- Fitr Gift Guide 2018 [11322-Views]
LOOTAH Perfumes launches four new springtime fragrances for Him and Her [9730-Views]
Leading Professional Beauty Distributor Nazih Cosmetics Celebrates the launch of Ardell Ma... [8424-Views]
GUESS Launches Ramadan Collection 2018 [8278-Views]
Meet the FOREO family as they share their top tips for radiant skin during the holy month [8089-Views]
Amani Glam Collection [7838-Views]
LOOTAH Perfumes launches fragrant oud ‘Ambwood' [7808-Views]
Experience 5 Seconds to New Skin with OXYGEN-PEEL from Filorga [7747-Views]
Three Trends to Try with Palladio Beauty [7387-Views]
Lip Stick to my Heart - GOSH New Collections [6893-Views]
Swatch Introduces Its Latest Spring-summer 2018 Collection [6246-Views]
Toyota Rush makes a new beginning in the UAE [6210-Views]
Carrera UAE Exhibition [6173-Views]
Lexus sweeps two podium finishes at round two of 2018 AUTOBACS SUPER GT 500 series [6112-Views]
bebe Launches First Ever Ramadan Capsule Collection [5661-Views]
New Master Maserati Driving Courses for 2018 [5588-Views]
Max Fashion Reveals Latest 2018 Fashion Trends at Exclusive Trunk Show [5582-Views]
Global Light and Power Celebrates 10 Years with the Opening of their New Showroom in Dubai [5374-Views]
Dubai's New Flagship Rolex Boutique Offers Unique Experience [5356-Views]
Celebrate a Traditional Ramadan at the First Swissôtel in Dubai [5234-Views]
Care for your baby's sensitive skin with Corine de Farme [5148-Views]
Diabetes & Ramadan (DAR) Alliance and Sanofi introduce new integrated digital hub to help ... [5106-Views]
HydroPeptide Launches Solar Defense Products in UAE [5063-Views]
Enhance your natural beauty while staying active with The Body Shop's Sportify Make-up Lin... [5057-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories