Drake & Scull 1st-Quarter Net Falls to 37.6 Million Dirhams

Drake & Scull International PJSC (DSI), a Dubai-based construction company, said net income fell to 37.6 million dirhams ($10.2 million) from 45.9 million dirhams a year earlier amid increased expenses, according to a company filing to the Dubai bourse.

Revenue rose to 777 million dirhams from 645 million dirhams while general and administrative expenses increased to 72 million dirhams from 62 million dirhams a year earlier.

The share price, up 9.4 percent this year, fell 2.3 percent yesterday to 0.821 dirham.

To contact the reporter on this story: Robert Tuttle in Doha at rtuttle@bloomberg.net

To contact the editor responsible for this story: Maher Chmaytelli at mchmaytelli@bloomberg.net

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