Dubai based Drake & Scull International posted healthy growth beating the forecasts made by analysts. The growth is attributed to diversification and expansion by the firm in regional markets other than the United Arab Emirates
(UAE).

The Dubai based contractor reported 22 per cent rise in its net profit that stood at AED55 million as compared to a profit of AED45 million during the corresponding period last year. The firm will focus on Saudi Arabia and Indian market to push its growth. The company is said to be chalking out plans for tapping the highly potential market of Saudi Arabia where property prices plunged more than 60 per cent in last few months.

It expects 25 to 30 per cent rise in its revenue in 2011. Drake's revenue surged to AED739 million as compared to AED412 million in 2010. Chief Financial Officer Osama Hamdan added, "Our primary focus for the second half of the year is controlling costs and efficiently allocating resources to optimize our expense base while ensuring growth in market share."