EMAS Offshore, the subsea division belonging to Ezra Holdings, said it posted a loss of US$1.06 million ($1.5 million) for the 1Q ended November due to sustained volatility and weakness in the oil price environment.
This compares with a profit of US$14.2 million a year ago.
Revenue fell 32% to US$49.8 million from US$72.7 million.
The group, which provides oil and gas services, said it would undertake measures to reduce costs and implement initiatives to improve operational efficiency and overall vessel utilisation.
EMAS Offshore is dual-listed in Norway and Singapore. The counter closed 1.19% higher at 17 cents on Friday.
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This compares with a profit of US$14.2 million a year ago.
Revenue fell 32% to US$49.8 million from US$72.7 million.
The group, which provides oil and gas services, said it would undertake measures to reduce costs and implement initiatives to improve operational efficiency and overall vessel utilisation.
EMAS Offshore is dual-listed in Norway and Singapore. The counter closed 1.19% higher at 17 cents on Friday.
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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