Dubai – Mubasher: The net losses attributable to the owners of Drake & Scull International (DSI) stood at AED 162.58 million in the first half (H1) of 2023, an annual surge from AED 88.09 million.
Revenues hit AED 45.26 million as of 30 June 2023, up year-on-year (YoY) from AED 45.05 million, according to the interim consolidated income statements.
The basic and diluted loss per share amounted to AED 0.15 in the first six months (6M) of 2023, higher than AED 0.08 in H1-22.
Meanwhile, the DSI order backlog is AED 410 million, driven by ongoing operations in the UAE and overseas countries.
Financial Results for Q2-23
In the second quarter (Q2) of 2023, DSI suffered net losses attributable to the shareholders valued at AED 43.40 million, versus AED 36.62 million a year earlier.
The revenues grew to AED 25.55 million in Q2-23 from AED 21.17 million in Q2-22, while the basic and diluted loss per share rose to AED 0.04 from AED 0.03.
Accumulated Losses
The DFM-listed company incurred accumulated losses totalling AED 5.26 billion as of 30 June 2023, representing 491% of the capital.
