Dubai – Mubasher: Drake & Scull International (DSI) shifted to net profits worth AED 3.79 billion in the first nine months (9M) of 2024, against net losses of AED 197.49 million in 9M-23.
The group posted revenues amounting to AED 72.41 million in 9M-24-24, versus AED 64.20 million a year earlier, according to the income statements.
Earnings per Share (EPS) stood at AED 1.88 as of 30 September 2024, compared to a loss per share of AED 0.18 during the same period in 2023.
Total assets grew to AED 715.60 million in 9M-24 from AED 350.40 million at the end of December 2023.
Financials for Q3
In the third quarter (Q3) of 2024, DSI turned profitable at AED 5.91 million, against net losses valued at AED 34.91 million in Q3-23.
The revenues rose by 13% year-on-year (YoY) to AED 21.47 million in Q3-24 from AED 18.94 million.
Sheikh Theyab bin Tahnoun bin Mohammad Al Nahyan, Chairman of DSI, said: “The progress we have made in reducing the debt burden and enhancing liquidity, coupled with the management’s continued implementation of resolute measures to control administrative and operational costs, has laid a solid foundation for future growth.”
As of 30 June 2024, the company's net profits amounted to AED 3.78 billion, while the revenues hit AED 50.94 million.
