Drake and Scull postpones annual general meeting to May 8

Dubai: Drake and Scull said on Sunday it has postponed its annual general assembly meeting to May 8.

The decision was taken due to lack of quorum at the meeting held on April 30, the company said in a statement posted on Dubai Financial Market’s website.

The company swung to a net loss of Dh936.8 million for 2015, as revenues dropped by 11 per cent to Dh4.2 billion from Dh4.8 billion. On Sunday, shares of Drake and Scull were 0.3 per cent higher at Dh0.56.