Dubai – Mubasher: Drake and Scull International (DSI) posted a 91.8% decrease year-on-year in its losses during the third quarter of 2016, according to a bourse filing.
Losses reached AED 80.92 million ($22.03 million) in Q3-16, compared to AED 985.47 million ($268.23 million) in Q3-15.
Revenues rose 100.2% year-on-year to AED 868.56 million in Q3-16, while finance costs fell 2.3% year-on-year in Q3-16.
General and administrative expenses declined 80% to AED 58.72 million in Q3-16, compared to AED 294.11 million in Q3-15.
In the first nine months of 2016, losses declined 68.8% to AED 297.25 million from AED 951.46 million in the prior-year period.
