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