Dubai – Mubasher: Drake & Scull International (DSI) swung to net losses attributable to the shareholders worth AED 157.59 million in the first nine months (9M) of 2022, against net profits of AED 58.27 million in 9M-21.

The revenues amounted to AED 64.15 million in the January-September 2022 period, down from AED 110.88 million in 9M-21, according to the income statements.

Additionally, the basic and diluted loss per share stood at AED 0.15 in 9M-22, versus earnings per share (EPS) of AED 0.05 during the same period a year earlier.

Meanwhile, the accumulated losses reached AED 5.03 billion as of 30 September 2022, accounting for 470% of the capital.

In the third quarter (Q3) of 2022, the net losses attributable to the owners enlarged to AED 68.49 million from AED 19.06 million in the year-ago period.

The revenues shrank to AED 19.10 million in Q3-22 from AED 29.10 million in Q3-21, whereas the basic and diluted loss per share jumped to AED 0.06 from AED 0.02.

During the first half (H1) of 2022, DSI shifted to net losses attributable to equityholders worth AED 89.09 million, compared to net profits of AED 77.33 million in the year-ago period.