Ezion Holdings' Q1 net profit rises 61.6%

SINGAPORE - Ezion Holdings, a Singapore-headquartered liftboat developer, owner and operator and offshore logistics support service provider, has reported a 61.6 per cent rise in first-quarter net profit to US$45.2 million (S$58.3 million).

Revenue for the three months to March 31 increased by 72.3 per cent to US$94.4 million.

The group attributed the rise to chartering contribution from the deployment of more units of its service rigs.

Earnings per share was 3.77 US cents, down from a restated 4.18 cents for the same period last year.

Ezion Holdings said its total equity increased by US$77.3 million to US$877.6 million due to profits derived in the first quarter of 2014, and the issuance of new ordinary shares and redeemable exchangeable preference shares.

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.