EMS Energy tackles assault on its orders, margins

Singapore

EMS Energy yesterday announced plans to boost its order sizes and scale, and to lift its profit margins and revenue.

It outlined a three-pronged strategy to meet the challenges posed by high oil prices, intense competition and more careful spending by oil majors, which have combined to slow its orders and exert pressure on its margins. EMS' first-half revenue slid 88 per cent to just $3.8 million this year from $30.8 million a year ago.

The provider of engineering solutions for the marine, oil and gas industries is fighting back. First, it will streamline its business by setting up distinct units for its main product groups.

Second, it will expand its marketing network and business development strategy by leveragi…