Depa’s net profit plunged 72pc

5 November, 2018 12:00 AM printer

DUBAI: Depa, the interiors firm that fitted out Burj Khalifa, reported a 72 per cent decline in net profit in the first nine months of 2018, held back by weaker performance of its Design Studio Group division.

Net profit after non-controlling interests stood at Dh36.2 million for the nine months to September 30, Depa said in a statement to Nasdaq Dubai, where its shares are traded. The first nine months of 2017 included “the positive impact of the resolution of two major long-outstanding receivables”, the company added, report agencies.

Revenue was up 5 per cent to Dh1.3 billion over the period, and Depa had a backlog of work valued at Dh2bn – up 15 per cent annually in the year to date.