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Drake & Scull wins big dollars in UAE and Saudi

November 13, 2012 12:38 by Reuters

Dubai-listed Drake & Scull has won three contracts in Saudi Arabia and Abu Dhabi worth a total of around 318.5 million dirhams ($86.7 million), the firm said in a statement on Tuesday.

The mechanical, electrical and plumbing contracts cover a commercial development in the west of Saudi Arabia worth 83 million riyals ($22.1 million), as well as a government administration facility and a hospitality venue in Abu Dhabi worth 115 million dirhams and 118.5 million dirhams respectively, the statement said.

Drake and Scull is due to report its third-quarter earnings on Wednesday. The average forecast of six analysts is for a 29 percent drop in profit compared to the same period last year.

Tags: Drake & Scull International, Dubai's Drake

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