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Dubai’s Drake & Scull reported a 70 percent drop in fourth-quarter net profit on Sunday.
The contractor made a profit of 13 million dirhams ($3.54 million) in the three months to Dec. 31, it said in a statement to Dubai’s bourse.
The company did not provide a profit figure for the corresponding period of the previous year, but Reuters data shows it made a profit of 42.8 million dirhams in the fourth quarter of 2013.
Two analysts polled by Reuters forecast Drake & Scull would make a quarterly profit of between 44 million dirhams and 52.6 million dirhams.
($1 = 3.6725 UAE dirham)
Source: Zawya
