Corporate digest

Ezion Holdings

EZION posted a loss after tax for the quarter ended Sept 30 of US$20.9 million, from US$13.7 million in the previous year. However, loss per share for the quarter was 0.57 US cent, compared with loss per share of 0.75 US cent in the preceding year on the back of a larger share base.

For the three months ended Sept 30, revenue dropped 55.9 per cent to US$28.1 million from US$63.7 million in the year-ago period. Ezion said that the fall in revenue for the period was mainly due to continued delays in the re-deployment of its liftboats due to working capital constraints before the finalisation of the refinancing of its bank borrowings and not recognising revenue when the group has assessed that certain customers are not able to meet existing cha…