{"id":90730,"date":"2024-04-03T00:00:00","date_gmt":"2024-04-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/depa-reports-2023-results\/"},"modified":"2024-04-03T00:00:00","modified_gmt":"2024-04-03T00:00:00","slug":"depa-reports-2023-results","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/04\/03\/depa-reports-2023-results\/","title":{"rendered":"Depa reports 2023 results"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Depa posted a net loss of AED 44.4 mn in 2023 compared to a net income of AED <\/strong><strong>59.1 mn in 2022<\/strong>,<strong> <\/strong>due to \u201cimpairments related to project receivable balances, particularly within Depa Interiors,\u201d according to the company\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/4\/223.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The interior construction and manufacturing company\u2019s revenues stood at AED 1.09 bn during the year, up 19% y-o-y.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>Depa is gearing up to expand operations into Saudi Arabia on the back of \u201cthe region\u2019s growth potential,\u201d Depa CEO Haitham Tuqan said. The contractor also plans to expand its reach in the construction fit-out sector through Depa Interiors and Deco Group, and explore new windows in the US upscale residential fit-out market through Vedder.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The firm\u2019s top line grew 19% y-o-y<\/p>\n","protected":false},"author":1,"featured_media":90731,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1596],"tags":[1417,1419,237,7],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-depa","tag-earnings","tag-earnings-watch","tag-enterpriseam-uae","wpautop","entry"],"acf":{"mongo_id":"21ee1c88-140b-4482-a268-2700b03e8741","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/884.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Depa reports 2023 results","related_issue":[90707],"teaser":"The firm\u2019s top line grew 19% y-o-y","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.feb0dc38-f4bb-4730-9fa7-e6ed3bd26468.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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