Triyards' Q3 profit warning raises questions

IF THE underlying tones of two recent regulatory announcements are any indication, Triyards could be the next business unit of the financially troubled Ezra group to hog the headlines, despite having stayed above water for over two years in a prolonged offshore and marine (O&M) downturn.

On July 7, the yard operating subsidiary of the erstwhile stock market darling, Ezra Holdings, issued a profit warning for its third-quarter financial results. The yard group followed through with a second announcement, warning of a material impairment on Houston-based properties that were acquired for developing oil and gas (O&G)-related businesses.

Investors who have read these announcements in reverse order, may well end up connecti…