Ezion Q4 profit more than doubles to US$83.7 million

EZION Holdings' net profit for the fourth quarter ended Dec 31, 2014, jumped 106.8 per cent to US$83.7 million on the back of 24.9 per cent rise in revenue to US$104.6 million.

The increase in revenue was mainly due to the chartering contribution from the deployment of additional units of the group's service rigs. It also enjoyed a US$34.9 million gain on disposal of subsidies compared with US$2.02 million a year ago.

For the full year, its profit rose 39.4 per cent to US$223.7 million while revenue rose 37.1 per cent to US$386.5 million.

A dividend of S$0.001 per ordinary share was declared, similar to a year ago.