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Sun 15 Feb 2015 10:36 AM

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Dubai's Drake & Scull Q4 profit falls 70%

Contractor made a profit of $3.54m in the three months to December 31

Dubai's Drake & Scull Q4 profit falls 70%
Khaldoun Tabari, Drake & Scull CEO

Dubai's Drake & Scull reported a 70 percent drop in fourth-quarter net profit on Sunday.

The contractor made a profit of AED13 million ($3.54 million) in the three months to December 31, it said in a statement to Dubai's bourse.

The company did not provide a profit figure for the corresponding period of the previous year, but Reuters data shows it made a profit of AED42.8 million in the fourth quarter of 2013.

Two analysts polled by Reuters forecast Drake & Scull would make a quarterly profit of between AED44 million and AED52.6 million.

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