Drake & Scull International PJSC (DSI) issued a clarification with regard to recent comments made by Khaldoun Tabari, Vice Chairman and CEO of DSI.
The management of DSI PJSC has given some projections and other forward looking statements regarding our future growth and profitability. These statements are predictions that are subject to risks and uncertainties that as a result might differ on actual.
“We would like to reiterate that the expected revenue for Drake & Scull International PJSC at the end of Fiscal 2011 as previously stated in all of our communication will be approximately 20 – 25% increase in comparison to Fiscal 2010 and has remained the same. The figure of Dh 3.5 billion that has been published on 26/08/2011 and 28/08/2011 by certain media publications is incorrect and was not portrayed by any member of Drake & Scull International PJSC,” it said.
The communication department of DSI would like to clarify that what was reported by certain media publications following the interview with Khaldoun Tabari, Vice Chairman and CEO of DSI published on the 26th of August and 28th of August 2011 respectively communicates inaccurate figures. DSI expects to close 2011 with Dh2.5 billion in revenues which represents a 35 % percent increase in comparison to fiscal 2010. DSI raised Dh1.2billion in an initial public offering in 2008, which fuelled a round of acquisitions in the region, providing the company a presence in all the major markets.
Tabari also highlighted the significant role that the media, both locally and internationally, plays in reporting opinions and views especially during these times of sensitive market conditions and the importance of the accuracy of reporting in order to maintain credibility, objectivity and responsibility.