EMS Energy back in the black with $3.81m profit

CATALIST-listed EMS Energy returned to the black for the full year of 2013 thanks to higher revenue, improved gross profit margin, a disposal gain and the absence this time round of a goodwill impairment.

The group yesterday posted a net profit of $3.81 million for the 12 months ended Dec 31, 2013, a reversal from a net loss of $16.91 million for FY2012.

Revenue from continuing operations rose 13 per cent to $21.12 million, attributed mainly to the accelerated progress of all ongoing projects, particularly during the second half of the financial year which followed efforts to improve internal efficiency and project management.