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Dubai’s Drake & Scull Q4 Profit Falls 70%

Dubai’s Drake & Scull Q4 Profit Falls 70%

The contractor made a profit of Dhs13 million ($3.54 million) in the last quarter of 2014.

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

The contractor made a profit of Dhs13 million ($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 Dhs42.8 million in the fourth quarter of 2013.

Two analysts polled by Reuters forecast Drake & Scull would make a quarterly profit of between Dhs44 million and Dhs52.6 million.

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