Profit of Construction Company Significantly Declines

Drake & Scull International (DSI) reported a net profit of Dh6.5 million for the first half of 2025, a significant decrease from the Dh3.8 billion reported in the same period of 2024. However, the company attributes the 2024 figures to restructuring adjustments and emphasizes that the current results reflect its ongoing comeback strategy.

During the first six months of 2025, DSI secured new projects valued at Dh1.39 billion, including ventures outside the UAE. Demonstrating its expansion efforts, the company also launched its inaugural real estate project in Dubai, with completion expected by late 2026. DSI is actively pursuing legal avenues to recover outstanding receivables and anticipates funds from favorable court judgments, acknowledging the lengthy legal processes involved.

Revenues for H1-25 reached Dh77.9 million, a 57% increase from Dh49.7 million in the previous year. According to Group CEO Muin El Saleh, this growth highlights DSI's ability to capitalize on market opportunities and maintain cost discipline. Key project wins include a Dh1 billion contract in the UAE, the North Balqa Wastewater Treatment Plant in Jordan (Dh215 million), and a water treatment plant in Maharashtra, India (Dh169 million), showcasing DSI's diversified capabilities.