By: Mahmoud Gamal
Dubai-Mubasher: Drake and Scull International’s (DSI) stock topped losers after the announcement of its financial results for the second quarter of 2016.
The stock retreated 4.26% by AED 12:15pm to reach AED 0.519, its lowest level in three months. Trading on the stock reached 69.57 million shares exchanged through 502 transactions, with a turnover of AED 36.2 million.
DSI incurred losses of AED 225.86 million ($61.49 million) in Q2-16, against profits of AED 6.16 million ($1.68 million) achieved in Q2-15.
The stock was mainly weighed down by the operating losses DSI incurred in Q2-16, according to Fady Al-Ghattis, CEO of Think Financial Services.
Operating losses reached AED 208.23 million in Q2-16, compared to AED 15.92 million in Q2-15.
Translated by: Julian Nabil
