Ezion Holdings posts 37.8% rise in Q2 profit

SINGAPORE - Ezion Holdings, which provides offshore vessels and services for the oil and gas industry, said on Thursday its second-quarter profit and revenue rose from a year ago as it chartered out more service rigs.

Net profit gained 25.5 per cent from the previous year to US$45.5 million, while revenue climbed 37.8 per cent to US$92.6 million, the Singapore-listed group said.

It attributed the rise in revenue to additional chartering contributions from deploying more liftboats and jack-up rigs.

Earnings per share rose to 3.58 cents for the second quarter, from 3.14 cents the previous year.

Net asset value per share increased to 82.09 cents as at June 30, from 67.55 cents as at Dec 31 last year.

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