Lacking oxygen in deep water
Drake & Scull has released its Q2 2017 figures showing an 18% decrease, yoy, in its revenue to AED660m. On the other hand, the company’s direct costs decreased by only 14%, which left its gross profit in red with a -7.4% gross margin (vs. -2.5% in Q2 2016).The company was able to shrink its general and administrative expenses by 39% to AED121m, compared to AED199m in Q2 2016.
On the balance sheet side, the company is showing a 9% increase in its bank borrowings compared to FY 2016 up to AED2,617m with the aim to meet working capital requirements.
AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.