Depa turns a profit over nine months

Depa, the Dubai-based interiors contractor that fitted out Burj Khalifa, said that it turned profitable in the first nine months of the year compared to the same period last year amid cost cuts.

Net profit rose to Dh29 million in the first nine months compared to a loss of Dh7m a year earlier.

Revenue was unchanged during the period at Dh1.18 billion from the same period last year.

“The group continues to improve its operational delivery with many key enhancements under implementation,” said Hamish Tyrwhitt, the company’s chief executive.

“These delivery enhancements, in addition to the strategic and financial support provided by our senior management team, will enable the group’s operating companies to better service our clients and ultimately lead to our capturing a greater share of our addressable market.”

The company has been suffering financially amid the regional slowdown in the construction industry and has taken measures including job cuts to maintain profitability.

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