DSI Announces Unaudited Preliminary Fourth Quarter 2017 Results

Press release
Published February 14th, 2018 - 06:53 GMT
Wael Allan, CEO Drake & Scull
Wael Allan, CEO Drake & Scull

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.

Background Information

Drake & Scull International PJSC

DSI’s journey began in 1881 and has continued over 135 years, spreading from the western edge of Europe, to stretch across the eastern fringes of Asia today. DSI’s historic legacy can be divided into three significant milestones.

"قاطع الرؤوس" في قبضة الاستخبارات العراقية

Published February 23rd, 2019 - 09:39 GMT
مقاتلين من داعش/ أرشيفية
مقاتلين من داعش/ أرشيفية

أعلنت الاستخبارات العسكرية العراقية، أمس الجمعة، عن اعتقال قاطع الرؤوس في "داعش" على الحدود العراقية السورية، الذي ظهر في أكثر من فيديو وهو ينفذ عمليات إعدام.

وقالت المديرية في بيان على صفحتها في موقع "فيسبوك" إن "مفارز مديرية الاستخبارات العسكرية في الفرقة 15 ، وإثر معلومات استخبارية دقيقة، ألقت القبض على أحد الإرهابيين الذين تسللوا عبر الحدود العراقية السورية والمعروف بـ (قاطع الرؤوس)".

وأضافت أن "هذا الشخص معروف بقاطع الرؤوس"، وأنه "ظهر بعدة إصدارات للدواعش أمام أشخاص قام بقطع رؤوسهم في العراق وسوريا".

 


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