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.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!