Dubai – Mubasher: Drake and Scull International (DSI) turned to losses in the first quarter of 2017, according to a bourse statement.
The company incurred losses of AED 838.88 million ($228.34 million) in Q1-17, against profits worth AED 9.53 million ($2.59 million) in Q1-16.
Revenues from contracts fell 22.7% to AED 795.81 million in Q1-17, compared to AED 1.03 billion in Q1-16.
Financing costs rose 85.1% to AED 20.9 million in Q1-17, compared to AED 11.29 million in Q1-16.
The company saw losses of AED 786.86 million in 2016, down 16.2% from AED 938.82 million in 2015.
