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- Dubai 04:20 05:42 12:28 15:53 19:08 20:30
Drake & Scull swung to a third-quarter net loss of Dh985 million. (File)
Dubai's Drake & Scull swung to a third-quarter net loss of Dh985 million dirhams ($268.18 million), the firm reported on Sunday, due to provisioning.
This compares to a net profit of Dh21.37 million in the year-earlier period. It was also below the estimate of SICO Bahrain, which forecast earnings in the period of Dh12.9 million.
The loss was attributed to provisioning and adjustments to revenue and gross profit worth Dh984 million, it said in a bourse filing.
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