Home Industry Construction Dubai’s Drake & Scull records Q2 net loss DSI had reported worsening earnings in eight of the preceding nine quarters by Reuters August 15, 2016 Follow us Follow on Google News Follow on Facebook Follow on Instagram Follow on X Follow on LinkedIn Dubai’s Drake & Scull (DSI) swung to a second-quarter net loss as revenue shrank amid a slowdown in the construction sector. The contractor made a net loss attributable to owners of the parent of Dhs207.6m ($56.6m) in the three months to June 30, it said in a statement. This compares with a profit of Dhs10.3m in the year-earlier period. EFG Hermes forecast DSI to make a quarterly loss of Dhs11.4m. DSI had reported worsening earnings in eight of the preceding nine quarters that it blamed on a slowdown in the Gulf construction sector, including a substantial loss in the third quarter of 2015 due to provisioning. DSI’s second-quarter revenue was Dhs805.5m, versus Dhs1.29bn a year earlier. Total net loss reached Dhs225.9m, it said. 0 Comments