Dubai – Mubasher: Drake & Scull International (DSI) turned to net losses attributable to the parent of AED 89.09 million in the first half (H1) of 2022, against net profits of AED 77.33 million in H1-21.

In the first six months (6M) of 2022, the revenues stood at AED 45.05 million, lower than AED 81.78 million in the year-ago period, according to the income statements.

Furthermore, the basic and diluted loss per share settled at AED 0.08 in H1-22, compared to earnings per share (EPS) of AED 0.07 in H1-21.

The UAE-based firm registered accumulated losses of AED 4.96 billion as of H1-22, higher than AED 4.82 billion in the January-June 2021 period.

During the second quarter (Q2) of 2022, the net losses attributable to the parent of DSI retreated to AED 36.62 million from AED 38.03 million in Q2-21.

Meanwhile, the revenues plunged to AED 21.17 million in April-June 2022, compared to AED 35.92 million during the same period a year earlier.

The basic and diluted loss per share declined to AED 0.03 in Q2-22 from AED 0.04 in Q2-21.