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The Board of Directors of Parkin Company (PJSC) invites shareholders to attend the Annual General Assembly Meeting (AGM) on Thursday, March 27, 2025, at 2:00 pm, held both virtually and physically at Holiday Inn, Festival City, Dubai, UAE. The agenda includes: reviewing and approving the Board of Director’s Report and Auditor’s Report for the fiscal year ending December 31, 2024; discussing and approving the Company’s Balance Sheet and Profit and Loss Account for the same period; considering the distribution of cash dividends of AED 280,866,905 for the second half of 2024 and approving the dividend distribution policy; approving interim cash dividends of AED 198,773,218 for the first half of 2024; approving the Board of Directors’ remunerations; discharging the Board of Directors and external auditors from liabilities for 2024; appointing external auditors for 2025 and determining their fees; and approving related parties’ transactions during 2024 as per the Company’s Balance Sheet.

Drake and Scull International PJSC (DSI), a company specializing in mechanical, electrical, and plumbing contracting services, as well as oil and gas, and water treatment projects, reported a significant financial turnaround for the year ending December 31, 2024. The company achieved a net profit of AED 3.76 billion, reversing a net loss of AED 367 million from the previous year. This improvement was attributed to a successful restructuring plan and capital injection. Key financial highlights include a 20% revenue increase to AED 103.7 million, gross profit growth to AED 5.3 million, and a rise in total assets to AED 647 million. Shareholder equity improved to AED 151.7 million, and earnings per share reached AED 1.685. Strategic achievements included a comprehensive restructuring plan approved by the Dubai Court of Appeal, a capital raise of AED 454 million, new project contracts worth AED 1 billion, and operational efficiencies that reduced finance costs.

The text refers to the consolidated financial statements of Drake and Scull International (P.J.S.C.) and its subsidiaries for the year ending December 31, 2024.