Depa gross profits jump

Depa reports revenue of AED1,186mn for the nine months to the end of September in line with the corresponding period for 2015 (AED 1,188mn).

It said the restructuring programme initiated at the beginning of 2016, establishing Depa Limited as a strategic management company supporting the operating companies through the provision of strategic leadership, has begun to bear fruit and the group generated solid gross profit of AED195mn - 65% up on last time. Accordingly, the group's gross margin returned to 16%, at the upper end of its targeted range. It said general and administrative cost control remains a key focus of the group. As a result of this and the strong gross profit creation, the group generated net profit after non-controlling interests of AED29mn (net loss of AED7mn in 2015).