EMAS Offshore, the subsidiary of Ezra that provides offshore oil and gas services, swung into 3Q losses of US$23.2 million ($31.2 million) from net profit of $5.2 million a year ago.
Revenue for the three months ended May fell 41% to US$35.1 million from US$59.2 million a year ago, mainly due to general weakness in the offshore industry.
The shallow water platform support vessels (PSV) and anchor handling, towing and supply vessels (AHTS) segment continues to remain weak, says EMAS Offshore.
The softening of demand in the offshore accommodation vessels (OAV) segment also contributed to the decline in revenue.
Shares of EMAS Offshore last traded at 8 cents.
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Revenue for the three months ended May fell 41% to US$35.1 million from US$59.2 million a year ago, mainly due to general weakness in the offshore industry.
The shallow water platform support vessels (PSV) and anchor handling, towing and supply vessels (AHTS) segment continues to remain weak, says EMAS Offshore.
The softening of demand in the offshore accommodation vessels (OAV) segment also contributed to the decline in revenue.
Shares of EMAS Offshore last traded at 8 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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