Drake & Scull International (DSI), the Dubai-based engineering and construction firm has announced second-quarter net profits of AED55m ($14.9), a 22 per cent growth compared with the same period last year.
Revenues reached AED739m, a rise of 79 per cent since the second quarter of 2010. Earnings per share rose from AED0.02 in the second quarter of 2010 to AED0.03 in 2011.
“The revenue growth is attributable to the geographical diversity of our operations. We are satisfied with our revenue growth in the mechanical engineering and plumbing (MEP) and the civil business, which recorded a year-on-year growth of 43 per cent and 376 per cent respectively,” says Khaldoun Tabari, chief executive officer of DSI.
Since the beginning of this year, DSI has secured contracts worth AED3.4bn in Oman, Egypt, Kuwait, Saudi Arabia, the UAE and Asia and Europe.