Dubai-based contractor Drake & Scull International (DSI) reported a more than 70% surge in first-half 2025 net profit, supported by a significant rise in revenue.
Net profit reached AED 6.5 million (USD 1.8 million) for the January–June period, compared with AED 3.8 million in H1 2024, aided by a one-off restructuring adjustment, the company said in a Dubai Financial Market filing.
Revenue grew 57% year-on-year to AED 78 million, driven by expansion in wastewater and water treatment projects in markets including India, Tunisia, Romania, and Jordan.
Gross profit rose to AED 6 million, reflecting improved cost efficiency and stronger project execution.
Recent contracts include an AED 1 billion project in the UAE, a AED 215 million contract for the North Balqa wastewater treatment plant in Jordan, and a AED 169 million water treatment facility in Maharashtra, India.
DSI shares slipped 0.3% to AED 0.355 on Wednesday afternoon but remain up 3% year-to-date.
Last month, the company revealed its entry into Dubai’s commercial real estate sector with its first development in the emirate. “By diversifying into development, we are securing new revenue streams, strengthening our brand and contributing to Dubai’s urban transformation,” said CEO Muin El Saleh.
The contractor is working to reposition itself after a near seven-year financial crisis that halted share trading in late 2018. Following a protracted legal dispute that almost led to liquidation, shareholders and creditors approved a restructuring plan in April 2023. Trading resumed in May 2024.
