Drake & Scull wins $87m Saudi, UAE deals
Dubai, November 13, 2012
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. -Reuters