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PACC Offshore Services Holdings | Hold
Target price: S$0.335
May 9 close: S$0.32

OCBC Investment Research, May 9

PACC Offshore Services Holdings (POSH) reported a 42 per cent year-on-year fall in revenue to US$34.3 million and a net loss of US$18.4 million in Q1 FY17, versus net profit of US$4.5 million in Q1 FY16.

There were insignificant one-off items in the quarter. Most of the drop in revenue came from the offshore accommodation segment (-65 per cent year on year to US$10 million in Q1 FY17) as...

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