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Ezion warns of Q1 net loss, but says operating cashflow still positive
EZION Holdings expects to post a net loss for the first quarter of 2018 due to "delays in re-deployment of some of the group’s assets" while a refinancing exercise was being finalised.
The liftboat and offshore assets operator said that while revenue and profitability will be "adversely affected", the group will nevertheless be operationally cashflow positive for the three months ended March 31.
The company will provide more details when it annnounces its results on May 11.
Ezion shares were trading flat at 10.9 Singapore cents as at 10.20am on Wednesday.