The FINANCIAL — Drake & Scull International said its net income in the fiscal third quarter jumped 77 per cent on year to Dh60 million on revenues of Dh847 million.
The project awards announced in the year to date total Dh3.6 billion.
In a statement, DSI, a regional market leader in integrated design, engineering and construction disciplines, said its earnings per share in the quarter were Dh0.03, compared with Dh0.02 recorded in the third quarter of last year.DSI's third-quarter results beat analysts' expectations.
"DSI's performance was surprisingly positive. In the near-term, DSI is going to attract more buyers and it might outperform the market," an EFG-Hermes trader told Gulf News, commenting on DSI's third-quarter results.
DSI's shares on the Dubai Financial Market closed 1.69 per cent higher at Dh0.840.
DSI said it started its operations in Algeria during the second quarter and established an office in India where it is pursuing an aggressive expansion strategy.
The firm said it is bidding for projects in the Middle East and North Africa and Asian regions.
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