Latest news with #MEP
Irish Times
3 days ago
- Politics
- Irish Times
Presidential election: Seán Kelly to ‘weigh up options' about seeking Fine Gael nomination
Fine Gael MEP Seán Kelly says 'the goalposts have changed' and he is reconsidering seeking a nomination from his party to contest the presidential election later this year. Former MEP Mairead McGuinness had been chosen as Fine Gael's candidate, and was regarded as a front-runner, but this week withdrew from the campaign on health grounds . Mr Kelly, a former GAA president, ruled himself out of the running in early July, which he said was the 'most difficult decision' of his political life, but on Saturday said 'the goalposts have changed' following the announcement regarding Ms McGuinness. He told Newstalk's Anton Savage Show he had not sought to be nominated as Fine Gael's candidate earlier this year, but would now 'weigh up all the options'. READ MORE 'When circumstances change, then obviously you have to look at things in a different light,' he said, adding that he has 'complete sympathy' for Ms McGuinness. The Ireland South MEP said Fine Gael would have a meeting in the coming days to decide its strategy and then 'I'll see what I will do after that'. 'There is a need to see what the national executive wants to do next week.' Former minister Heather Humphreys did not run in last year's general election, but has emerged as a favoured candidate among the Fine Gael parliamentary party. She said in May she was not interested in running for president, but there are hopes within her party that she may be open to changing her mind. Asked if he was concerned that Ms Humphreys might already have the necessary support sewn up, Mr Kelly said: 'I don't think it has even reached the stage where they're contemplating who to run because they are all showing respect for Mairead. 'I think next week will be time enough to reflect properly on that and take action. There's no rush, so then let's take it as it comes.' Mr Kelly said that if he enters the race he will be doing so 'to win it'. Frances Fitzgerald , a former MEP and minister for justice, on Friday said she did not intend to contest the election to succeed Michael D Higgins . Independent Galway West TD Catherine Connolly is currently the only candidate who has the required support to contest the election.
Irish Times
5 days ago
- Health
- Irish Times
Mairead McGuinness to drop out of presidential race
Former European Commissioner and MEP Mairead McGuinness is dropping out of the presidential election race for health reasons. In a statement she said: 'I have made the very difficult decision to withdraw my name as the Fine Gael nominee for the Presidential election. 'This decision is not lightly taken and follows a stay in hospital last week. 'My priority now is my health. Given that the election is in a short couple of months, I do not believe that I have the strength to give the campaign my all.' READ MORE 'I am taking this decision on medical advice and while it is extremely difficult, it is the right decision for me and my family.' Ms McGuinness was one of just two official candidates in the race and she led recent opinion polls . Her surprise departure from the race throws the election wide open. The other candidate who has enough confirmed support to secure a place on the ballot paper is Independent TD Catherine Connolly who has the backing of The Social Democrats, Labour and People Before Profit. Fianna Fáil and Sinn Féin are still deliberating on their approach to the presidential election and whether or not they will run candidates. In recent days businessman Gareth Sheridan has announced his intention to run saying he will seek nominations from local authorities . People who wish to enter the race must have nominations from 20 Oireachtas members or four county or city councils. In her statement Ms McGuinness said: 'I appreciate that this will come as a shock and disappointment to party members and colleagues in Fine Gael, but our political family is strong. 'I have spoken with the Tánaiste and Party leader, Simon Harris, and thank him for his support and understanding. 'I also want to thank all of those people who have done so much to support me, now and in the past. 'My focus now is my health and my family, and I ask for privacy in the time ahead.' Mr Harris said: 'Mairead McGuinness has made an incredible contribution to public life in Ireland and in Europe. 'It was our clear view in Fine Gael and the view of many people across Ireland that Mairead would make an excellent President of Ireland. 'Mairead's health will not now allow this. 'This has come as an awful shock to us all. Mairead is a valued member of our Fine Gael family. It is absolutely essential that she now prioritises her health and I know I speak for everyone when I wish her all the very best on that journey. 'In the coming days, Fine Gael, like others, will consider further the presidential election. Our Executive Council will convene to do this. 'But that's for the time ahead, not for today. Today I want to pay tribute to Mairead. I want to thank her for all she has done. I want to wish her and Tom and their family all the best at this time and she knows we are all sending her our very best.'
Gulf Business
6 days ago
- Business
- Gulf Business
Drake & Scull posts sharp profit drop but wins major contracts
Drake & Scull International (DSI) has reported a sharp drop in profitability for the first half of 2025, posting a net profit of Dhs6.5m compared to Dhs3.8bn in the same period last year. The prior-year result was heavily boosted by a one-time gain linked to the company's agreed restructuring plan. The MEP, oil and gas, and water and wastewater treatment contractor saw revenue climb 57 per cent year-on-year to Dhs77.9m, supported by project momentum in India, Tunisia, Romania, and Jordan. Gross profit rose to Dhs5.9m, up from Dhs3.7m a year earlier, on the back of improved cost management and execution. Despite the top-line growth, general and administrative expenses increased to Dhs24.5m from Dhs21.2m, driven by higher legal, professional, and business development costs. Total assets declined 2.7 per cent to Dhs629.5m as of 30 June 2025, while total equity rose 4.4 per cent to Dhs158.4m. Cash and bank balances stood at Dhs309.2m. Read: Muin El Saleh, group CEO of Drake & Scull International, said: 'Our performance in the first half of 2025 reflects the successful execution of our strategic priorities. The 57 per cent revenue growth demonstrates our ability to capitalize on opportunities in our core markets while maintaining disciplined cost management. We are particularly proud of our recent project awards, which include a landmark Dhs1bn contract in the UAE, the North Balqa Wastewater Treatment Plant in Jordan (Dhs215m), and a water treatment plant in Maharashtra, India (Dhs169m). These achievements showcase our diversified capabilities and strong market position across multiple sectors and geographies.' He added: 'The strong momentum from these significant wins provides a solid foundation for the second half of the year. We remain focused on delivering quality projects, optimizing our operations, and creating sustainable value for our shareholders.' The results underline the impact of last year's restructuring windfall on DSI's bottom line, with the latest figures reflecting a more normalized earnings profile. The company continues to pursue its recovery strategy, securing new project awards while navigating higher operating costs and the legacy of its restructuring process.
Zawya
6 days ago
- Business
- Zawya
Drake & Scull secures $381mln in new contracts, enters Dubai commercial real estate
DFM-listed Drake & Scull International (DSI) announced on Tuesday that it has secured 1.4 billion UAE dirhams ($381 million) worth of new projects in the first half of 2025. These include a landmark AED 1 billion contract in the UAE, the AED 215 million North Balqa Wastewater Treatment Plant in Jordan, and a AED 169 million water treatment facility in Maharashtra, India. In the first half, the UAE-headquartered mechanical, electrical, and plumbing (MEP) specialist also announced its strategic entry into Dubai's commercial real estate sector with the purchase of a prime plot in Majan to develop its first self-owned office building. DSI posted a 57 percent year-on-year revenue increase of AED 77.9 million for the six months ended 30 June 2025. Gross profit rose 59 percent to AED 5.9 million, while net profit stood at AED 6.5 million, compared with AED 3.8 billion in H1 2024, when results were boosted by a one-off restructuring gain. General and administrative expenses rose to AED 24.5 million from AED 21.2 million due to higher legal, professional, and business development costs. Total assets were AED 629.5 million at the end of June, slightly lower than year-end 2024, while total equity increased to AED 158.4 million. Cash and bank balances stood at AED 309.2 million. However, interim condensed consolidated financial statements posted on DFM noted that accumulated losses exceeded 50 percent of share capital and that the group generated negative operating cash flows of AED 61.8 million in the first half. Group CEO Muin El Saleh said the contract awards provide a solid foundation for the second half of the year. 'We remain focused on delivering quality projects, optimisng our operations, and creating sustainable value for our shareholders,' he said. (Writing by SA Kader; Editing by Anoop Menon) (
Zawya
6 days ago
- Business
- Zawya
Drake and Scull reports AED 6.5mln net profit in H1 2025
Dubai, UAE – Drake and Scull International PJSC (DSI), specializing in contracting services for mechanical, electrical, and plumbing (MEP), as well as oil and gas, water and wastewater treatment projects, announced its financial results for the six-month period ending June 30, 2025, recording a net profit of AED 6.5 million, compared to a net profit of AED 3.8 billion in H1 2024 (which included a one-time adjustment to reflect the agreed restructuring plan). Key Highlights – H1 2025 vs. H1 2024: Revenue: AED 77.9 million (H1 2024: AED 49.7 million) → Up 57% year-on-year Gross Profit: AED 5.9 million (H1 2024: AED 3.7 million) → Up 59% year-on-year Net Profit: AED 6.5 million (H1 2024: AED 3.8 billion, driven by restructuring adjustments) Total Assets: AED 629.5 million (Dec 31, 2024: AED 647.0 million) → Down 2.7% Total Equity: AED 158.4 million (Dec 31, 2024: AED 151.7 million) → Up 4.4% Cash and Bank Balances: AED 309.2 million, supporting operational flexibility and future growth. Financial Performance: Revenue for H1 2025 increased by 57% to AED 77.9 million, up from AED 49.7 million in H1 2024, driven by strong performance in wastewater and water treatment projects across key markets, including India, Tunisia, Romania, and Jordan. Gross profit improved to AED 5.9 million, reflecting better cost management and project execution. During the first half of 2025, DSI continued to implement its restructuring plan, including offsetting a portion of the accumulated losses against the statutory reserve. General and administrative expenses were AED 24.5 million (H1 2024: AED 21.2 million), primarily due to higher legal and professional fees, and business development costs. The Company maintained a solid liquidity position with cash and bank balances of AED 309.2 million, ensuring operational flexibility. Operational Highlights: In the first half of 2025, DSI strengthened its operational base and market presence by advancing multiple international projects and actively pursuing new bidding opportunities across the Middle East, Asia, and Africa. The Company also made a strategic entry into Dubai's commercial real estate sector by purchasing a prime piece of land in Majan to build its first self-owned commercial building in Dubai. Commenting on the results, Muin El Saleh, Group CEO of Drake & Scull International, said: "Our performance in the first half of 2025 reflects the successful execution of our strategic priorities. The 57% revenue growth demonstrates our ability to capitalize on opportunities in our core markets while maintaining disciplined cost management. We are particularly proud of our recent project awards, which include a landmark AED 1 billion contract in the UAE, the North Balqa Wastewater Treatment Plant in Jordan (AED 215 million), and a water treatment plant in Maharashtra, India (AED 169 million). These achievements showcase our diversified capabilities and strong market position across multiple sectors and geographies." He added: 'The strong momentum from these significant wins provides a solid foundation for the second half of the year. We remain focused on delivering quality projects, optimizing our operations, and creating sustainable value for our shareholders.' About Drake and Scull International PJSC Drake & Scull International PJSC (DSI) is a global industry leader delivering state-of-the-art projects and solutions across its high-performance sectors including electromechanical, integrated design, engineering, and construction, for water, power and oil and gas sectors. Through our operations, we provide integrated design, smooth functionality, and efficiency from start to finish. From Infrastructure Development, Waste to Energy, Data Centers Development, Mechanical Electrical and Plumbing (MEP) to Renewable Energy. DSI continues to be at the helm, driving the market forward through our people, passion, and innovation for more than 135 years.
