Dubai-Mubasher: Drake and Scull International (DSI) said the decline in the “projects’ backlog” reflects the adjustments seen in Q2-16 pertinent to project cancellations in Saudi Arabia.
DSI’s “ongoing projects order backlog” amounted to AED 9.37 billion in H1-16, as compared to AED 13.24 billion in H1-15.
Despite the slowdown in the regional project awards, the company managed to secure AED 570 million worth of new project awards up to date including the AED 343 million Doha Metro Depot and Stabilising Yards contract, in addition to the AED 227 million Zubair Oil Field project in Iraq.
In H1-16, the company saw losses of AED 216.33 million, against profits of AED 34.02 million in H1-15.
