Dubai – Mubasher: Drake & Scull International (DSI) has reported net profits attributable to the equity holders of AED 77.336 million during the first half (H1) of 2021.

The company generated revenues of AED 81.785 million in the first six months of 2021, up from AED 77.518 million in the year-ago period, according to a press release on Wednesday.

The earnings per share (EPS) settled at AED 0.07 in the January-June period of 2021.

Meanwhile, the company's accumulated losses have been reduced from AED 4.902 billion as of 31 December 2020 to AED 4.824 billion as of 30 June 2021.

The Chairman of DSI, Shafiq Abdelhamid, said: "We have made good progress on the restructuring. We now have a fully documented legal agreement with a group of the largest lenders. The details of the Restructuring Plan were presented to all creditors to initiate the voting, and we are progressing towards securing the required approval of two-thirds of creditors by value."

It is noteworthy to mention that during the first quarter (Q1) of 2021, the company has turned profitable at AED 115 million, against a net loss of AED 30 million in the same period a year earlier.