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Ezra Holdings 9M15 Net Profit Rises 50.6%
Ezra Holdings saw its net profit for 9M15 grow 50.6 percent to US$51.5 million despite a net loss of US$3 million for the latest quarter.
9M15 revenue declined due to a 2.8 percent decrease in revenue from the group’s subsea services division and offshore support and production services division, partially offset by better performance from the marine services division.
Ezra’s performance was boosted by a US$73.2 million increase in other income mainly due to recognition of one-off gain on bargain purchase from the acquisition of subsidiaries and favourable foreign exchange conditions.
As of 31 May 2015, the group has a backlog of US$2 billion, inclusive of US$415 million from two floating production storage and offloading vessels, Lewek EMAS and Perisai Kamelia that EMAS Offshore has stakes in.
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