Drake and Scull International (DSI) on Wednesday announced it became profitable in the fourth quarter of 2017.
The UAE-based company generated profits of about AED 0.7 million in Q4-17, compared to losses of AED 359 million in the same period last year, according to a filing to the Dubai Financial Market (DFM).
Revenues increased to AED 656 million in the three months ended December 2017, up from AED 554 million in the corresponding period a year earlier.
On the annual basis, DSI’s losses hiked by 71% to AED 1,395.6 million ($379.9 million) last year, versus losses of AED 815.3 million ($221.94 million) in 2016.
Revenues retreated by 17% in 2017 to AED 2,702.8 million, from AED 3,259 million in the year before.