Dubai – Mubasher: Drake & Scull International (DSI) turned profitable at AED 2.45 million in the first quarter (Q1) of 2025, AED 39.99 million in Q1-24.
Basic earnings per share (EPS) reached AED 0.001 in Q1-25, against a loss per share of AED 0.015 a year earlier, according to the financial results.
Revenues from contracts with customers increased to AED 30.36 million as of 31 March 2025 from AED 29.95 million in the year-ago period.
DSI closed the quarter with a strong cash position of AED 298.50 million in unrestricted cash, reflecting prudent financial management.
The movement in cash during the period was mainly due to strategic investments in property of AED 21.40 million as part of the company’s ongoing growth and operational priorities.
In the first three months (3M) of 2025, DSI secured a landmark AED 1 billion deal in the UAE, marking a milestone in its operational turnaround and reinforcing its competitive positioning in the market.
Muin El Saleh, Group CEO of DSI, said: "The return to profitability underscores our focus on cost discipline, strategic project execution, and value creation for our shareholders. While challenges remain, our liquidity position and recent project awards provide a foundation for recovery."
“The group is cautiously optimistic for the remainder of 2025. With the successful award of major projects, a streamlined cost structure, and stabilized operations, we expect further improvement in financial performance over the coming quarters,” El Saleh added.
In 2024, DSI recorded net profits attributable to the shareholders valued at AED 3.74 billion, compared to net losses of AED 368.11 million in 2023.
