Dubai contractor Drake & Scull reports Dh936 million loss for 2015 | The National:
"Dubai-based contractor Drake & Scull reported a Dh936.8 million loss for 2015, which it blamed on the “unprecendent measures” it had to take in the third quarter, where it was forced to make Dh984m in provisions relating to an continuing contractual dispute in Saudi Arabia.
The company said that it had “normalised its profitability” following this, declaring a Dh14m fourth quarter profit as revenue climbed by 27 per cent to Dh1.4 billion (Q4 2014: Dh1.1bn).
However, full-year revenue dropped by 11 per cent to Dh4.2bn and despite winning Dh3bn worth of projects during 2015, its backlog fell by 18 per cent to Dh11.83bn by its year end."
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