EMS Energy warns of FY15 loss

EMS Energy warned that it will report a net loss for 2015 due to delayed projects, one-time fees and lower share of associates' profits.

EMS, an oil-and-gas contractor, said that delays in the schedule for some projects has led to a delay in recognising revenue, and hence lower profitability.

The company also incurred one-off professional fees and other expenses related to the acquisition of the Koastal Group.

EMS is also expecting a lower share of profit from its associated company.

The company expects to report its results by Feb 29.