Depa said in a statement that it incurred an operating loss of 3.8 million dirhams for the year, excluding the one-time Burj Khalifa interim claim of 186 million dirhams, which has been taken through the income statement.
Chief Executive Mohannad Sweid said 2010 was the company’s “recession year” but expects to return to high profit levels in 2011.
It reported a goodwill impairment and deferred tax asset write-off of 67 million dirhams for the year.
In 2009, Depa had profits of 234 million dirhams.
Depa said its backlog remains strong at 2.2 billion dirhams, marginally higher than its backlog of 2.1 billion dirhams in 2009.
The company said it would continue to add new markets to its portfolio like Malaysia, Azerbaijan, Thailand, Yemen, Syria and Yemen.
Depa said infrastruture projects will become an increasing portion of its revenues and it expects the recent win by Qatar to host the FIFA World Cup in 2022 to drive growth in hospitality and infrastructure.
