Dubai – Mubasher: The net losses attributable to the owners of Drake & Scull International (DSI) enlarged to AED 352.11 million in 2023 from AED 224.39 million a year earlier.

The company posted revenues amounting to AED 93.84 million in 2023, marking a year-on-year (YoY) rise from AED 81.07 million, according to the preliminary financial results.

Loss per share widened to AED 0.33 last year from AED 0.21 in the January-December 2022 period.

Total assets amounted to AED 356.09 million in 2023, down YoY from AED 379.99 million.

In the first nine months (9M) of 2023, the DFM-listed company reported net losses attributable to the shareholders worth AED 197.56 million, higher than AED 157.59 million in 9M-22.

DSI incurred accumulated losses valued at AED 5.29 billion as of 30 September 2023, equivalent to 494% of the AED 1.07 billion capital.