Drake & Scull cut its quarterly losses by 81% to 70 million dirhams in the third quarter of 2020 compared to 370 million dirhams in the third quarter of last year.
According to Arabiya Net, the company attributed the reduction in losses to a 95% decline in general and administrative expenses.
The company's quarterly revenue from client contracts fell 48% to 40 million dirhams.
The accumulated losses of Drake & Scull at the end of the third quarter of this year exceeded 4.8 billion dirhams, which is more than 4 times the capital.
