Drake and Scull International (DSI) incurred a net loss of AED 498 million ($135.58 million) in the third quarter of the year, largely due to a restructuring effort that has seen it hand over its legacy projects, it was announced on Wednesday.
In a statement, DSI attributed the operating law to the final phase of the close-out and handover of the companys legacy projects, which form part of a large restructuring programme which includes the reassessment of all projects.
Due to this reassessment, DSI believes that several other legacy projects, which are due for closure and handover, may lead to further losses in Q4.
The company statement added that it is continuing to pursue measures to accelerate bidding and secure new …
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