Source: www.arabianbusiness.com
Dubai-based interiors contractor Depa Ltd on Sunday said its year-end revenue and profit expectations will be lower than the previous year but improving backlog will help the firm grow in 2011 and 2012.
Depa said in a statement to Nasdaq Dubai bourse that the backlog now stands at 2.4 billion dirhams ($653.4 million) and third-quarter trading was in line with previous guidance without providing any additional details.
The 2010 outlook excludes the impact of a claim relating to Burj Khalifa, the world’s tallest tower in Dubai, the statement said.
The company had made a net loss 103.6 million dirhams in the first half of the year due to the Burj Khalifa claim, it said in August.
The firm said it is positioned for about 20 percent growth in 2011 and 2012. It is also expanding into new territories like Yemen, Angola and Abu Dhabi.
Depa shares rose 1.5 percent at 0950 GMT on the Nasdaq Dubai bourse Sunday.
