Depa, the world's largest interior contractor, has confirmed that it expects in excess of 50 per cent growth in interim revenues and net profit in the first half of 2008 compared to the same period last year and is also on target for 40 per cent growth for the full year.
The statement was issued ahead of the announcement of its interim results on August 20, 2008. "Depa is experiencing strong sales growth, with project wins part of a clear strategy and investment and acquisition plans on track. The company is also as planned successfully entering new markets such as Singapore, where Depa's joint venture DDS Contracts & Interior Solutions recently won a Dh186.5 million contract," said the statement.
"However, it should be noted that business is highly seasonal and usually less than a quarter of contract income is realised in the first half of the year, while a substantial portion of contract income is realised in the last quarter of the year. This cyclicality in revenue realisation is a characteristic of the interior contracting sector as the end of the fiscal year is usually used as contract deadline by clients," the statement added.