Drake and Scull plummets amid profit decline
A roller coaster trading day ended at the Dubai Financial Market with an index gain of 0.11 per cent, closing at 4,739.95 points on Sunday, August 10. Arabtec, as the most active share by value, added 0.50 per cent to close at AED4.12, while Emaar slipped 0.50 per cent to AED9.70.
Drakes and Scull International, known as DSI, dived 4.20 per cent to AED1.37. The UAE’s biggest property maintenance and water and power firm revealed it in its consolidated interim financial statement that its net income for the second quarter profit attributable to owners declined to AED25.88 million ($7.05m), down from AED43.96m ($11.98m) in the same period in 2013, a 41 per cent drop year on year. The half-year net income fell to AED66.184m ($18.03m), off by 33 per cent.
Only 188 shares worth AED290m changed hands.