Dubai’s Drake & Scull Q4 Profit Falls 70%

Dubai’s Drake & Scull reported a 70 percent drop in fourth-quarter net profit on Sunday.

The contractor made a profit of 13 million dirhams ($3.54 million) in the three months to Dec. 31, it said in a statement to Dubai’s bourse.

The company did not provide a profit figure for the corresponding period of the previous year, but Reuters data shows it made a profit of 42.8 million dirhams in the fourth quarter of 2013.

Two analysts polled by Reuters forecast Drake & Scull would make a quarterly profit of between 44 million dirhams and 52.6 million dirhams.

($1 = 3.6725 UAE dirham)

Source: Zawya