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Ezra's first quarter net profit nearly halves, causing share price to tumble

Published on Jan 14, 2013 5:20 PM

Offshore services group Ezra Holdings today reported a 49 per cent drop in first quarter net profit to US$6.8 million (S$8.3 million).

The weaker earnings sent Ezra shares tumbling 4.2 per cent to S$1.25.

Profits were hurt by higher expenses and lower contributions from associated companies.

This was despite revenue for the three months to Nov 30 rising 54 per cent to US$278.7 million.

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