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Ezra posts 34% drop in Q2 net profit, secures new contract win

Published on Apr 11, 2014 9:57 AM

SINGAPORE - Offshore and marine services provider Ezra Holdings has posted a 34 per cent drop in net profit to US$19.6 million (S$24.4 million) for the quarter ended Feb 28.

This was due to a weaker-than-expected performance by its offshore support services division and the absence of one-off gains last year from Ezra's sale of assets, the group said.

Revenue rose 22 per cent to US$300.4 million, mainly driven by the group's subsea services division, EMAS AMC.

The revenue increase was partly offset by a fall in revenue in its offshore support services division, EMAS Marine.

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