Ezra slips into the red in Q1, plans to boost vessel utilisation

Singapore

EZRA Holdings, which slipped into the red in the fiscal first quarter (Q1 FY2016), plans to stay the course in cutting costs and bumping up vessel utilisation, its group chief executive told The Business Times.

For the three months ended Nov 30, 2015, Ezra posted a net loss attributable to equity-holders of US$55.35 million, a reversal from the US$54.4 million net profit for the previous corresponding quarter.

The net loss, which comprises US$18.65 million from continuing operations and US$36.7 million from discontinued operations, translated to loss per …