Sunday, May 3, 2015Sunday, May 3, 2015

Offshore services firm Ezra International's net profit dips 6% on absence of one-off gains

Published on Jan 10, 2014 8:58 AM

Ezra International has posted a 6 per cent dip in its first-quarter net profit to US$6.3 million (S$8.1 million), in the absence of a one-off gain from the sale of assets recognised in the same period last year.

Revenue for the Singapore-listed offshore services company rose 22 per cent to US$339.8 million in the three months to Nov 30 last year, on the back of a better performance in its subsea services division, it said on Friday.

This was partially offset by a US$0.8 million decline in revenue from the offshore support services division, due to vessels undergoing repair and maintenance and in transit to the next area of operation.

The subsea services division accounted for US$59.5 million of the company's US$61.1 million increase in revenue in the first quarter from a year ago.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!