UAE company Drake & Scull achieved profits of 199.8 million dirhams during the first half of 2020, compared to losses of 777 million dirhams in the same period in 2019. < / p>
According to the Emirates News Agency, the company's financial data showed that achieving profits during the first half of the current year was a result of non-recurring profits from excluding a subsidiary by 353.7 million dirhams in addition The general and administrative expenses decreased to 61.8 million dirhams, compared to 586.3 million dirhams during the same period of the previous year.
The company made a profit of 229.6 million dirhams in the second quarter of 2020 compared to losses of 246.6 million dirhams during the second quarter of 2019.
The CEO of the company, Munir Mansour, said: We were keen during the last period to ensure the continuity of the company’s work in various projects while taking precautionary measures and complying with government decisions regarding health conditions, referring to The company continued contracting work in its projects, focusing on operational efficiency and financial performance in general, in line with the restructuring and work plan.
He added: As for the restructuring plan, we have reached advanced stages in discussions with the leading banks to finalize the framework and details of the financial reorganization plan with the support of the Board of Directors. < / p>
