Drake and Scull International (DSI) continued to trend in the right direction following its financial overhaul, reporting a net profit of AED 6.5 million (US$1.77 million) for the first six months (H1) of 2025. The company had declared a net profit of AED 3.8 billion in H1 2024, but that was driven by the court-agreed restructuring adjustments.
In H1 2025, the company reported revenue of AED 77.9 million (US$21.2 million), up 57 per cent YoY from AED 49.7 million (US$13.53 million) in the same period last year. Gross Profit was AED 5.9 million (US$1.61 million), up 59 per cent YoY from AED 3.7 million (US$1.01 million).
The increased revenue for H1 2025 was driven by strong performance in wastewater and water treatment projects across key markets, including India, Tunisia, Romania, and Jordan.
During the first half of 2025, DSI continued to implement its restructuring plan, including offsetting a portion of the accumulated losses against the statutory reserve. General and administrative expenses were AED 24.5 million (US$6.67 million), primarily due to higher legal and professional fees, and business development costs.
The company maintained a healthy liquidity position with cash and bank balances of AED 309.2 million (US$84.2 million), ensuring operational flexibility.
Muin El Saleh, Group CEO of Drake & Scull International, commented: “Our performance in the first half of 2025 reflects the successful execution of our strategic priorities. The 57 per cent revenue growth demonstrates our ability to capitalise on opportunities in our core markets while maintaining disciplined cost management.
“We are particularly proud of our recent project awards, which include a landmark AED 1 billion contract in the UAE, the North Balqa Wastewater Treatment Plant in Jordan (AED 215 million), and a water treatment plant in Maharashtra, India (AED 169 million). These achievements showcase our diversified capabilities and strong market position across multiple sectors and geographies.
“The strong momentum from these significant wins provides a solid foundation for the second half of the year. We remain focused on delivering quality projects, optimising our operations, and creating sustainable value for our shareholders.”
During H1 2025, DSI strengthened its operational base and market presence by advancing multiple international projects and actively pursuing new bidding opportunities across the Middle East, Asia, and Africa. The company also made a strategic entry into Dubai’s commercial real estate sector by purchasing a prime piece of land in Majan to build its first self-owned commercial building in Dubai.
