Jaya's Q2 earnings climb 11% to US$7.2m

OFFSHORE energy services provider Jaya Holdings saw its second-quarter net profit increase 11 per cent to US$7.2 million from US$6.5 million last year.

The group's revenue for the three months ended Dec 31, 2013 was US$33 million, 70 per cent less than the US$108 million during the same period last year, due to vessel sales in the year-ago period.

Excluding vessel sales, the quarter's revenue was 31 per cent higher than the previous corresponding quarter, due to improved charter utilisation of 83 per cent compared to 80 per cent in the previous corresponding quarter.