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Ezion Holdings 9M15 Earnings Slumps 28% On Worsening Margins

Shares Investment

Ezion Holdings reported a slump of 28.3 percent in their 9M15 net profits to US$100.3 million on the back of worsening margins under a depressed oil and gas price environment.

Revenue saw a dip of 5.5 percent to US$266.4 million due to absence of contribution from the marine and offshore logistic support services division as the projects in Queensland, Australlia did not go into additional trains as originally planned. Coupled with a cost of sales soaring 21.3 percent due to deployment of additional service jack-up rigs, gross profits plummeted 31.6 percent to US$97.9 million, leading to the significant loss in net earnings.



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