Press releases, Reports & Disclosures for Drake & Scull International P.J.S.C

Drake and Scull International PJSC (DSI), a company specializing in contracting services for mechanical, electrical, and plumbing, as well as oil and gas, and water and wastewater treatment projects, reported a net profit of AED 6.5 million for the first half of 2025. This is in comparison to AED 3.8 billion in H1 2024, which included a one-time restructuring adjustment. Revenue increased by 57% to AED 77.9 million, driven by strong performance in projects across India, Tunisia, Romania, and Jordan. Gross profit rose to AED 5.9 million due to better cost management and project execution. Total assets decreased by 2.7% to AED 629.5 million, while total equity increased by 4.4% to AED 158.4 million. Cash and bank balances stood at AED 309.2 million, supporting operational flexibility. General and administrative expenses were AED 24.5 million, up from AED 21.2 million, due to higher legal, professional, and business development costs. DSI continued its restructuring plan, offsetting some accumulated losses against the statutory reserve.

Drake and Scull International PJSC (DSI), known for its contracting services in mechanical, electrical, and plumbing, as well as oil and gas, and water and wastewater treatment projects, has announced its entry into commercial real estate development with its first self-owned project in Dubai. This strategic move involves the acquisition of a prime plot in Majan, Dubai, where DSI plans to develop a mixed-use commercial building. This project signifies DSI's diversification beyond its core business, aiming to leverage its industry expertise to create lasting assets and secure new revenue streams. CEO Muin El Saleh emphasized that this development marks a transformative step for DSI, aligning with its vision to evolve with the market and contribute to Dubai's urban growth. This project is the beginning of DSI's new strategic direction towards becoming a more diversified enterprise.