Drake & Scull Q1 profit down 39%
Project delays cited as reason behind decline in net income.
May 12, 2010 5:51 by Ben Flanagan
Drake & Scull International, a Dubai-based mechanical and plumbing company, has reported a 39 percent fall in first-quarter profit.
Net income dropped to AED42 million, compared with AED69 million in Q1 of 2009, according to a report by Bloomberg quoting figures posted on the Dubai Financial Market website.
Project delays were cited as the reason behind the decline in net income.