You are here

Ezra posts US$3m net loss in Q3 FY15 on lower revenue

EZRA Holdings swung to a net loss of US$3 million in the third quarter of FY15, as other expenses (net) hit US$2.3 million - a reversal from Q3 FY14's other income (net) of US$383,000.

This was "was mainly due to realised loss on derivative instruments of US$9.7 million which was partially offset by a turnaround of the foreign exchange loss in Q3 FY14 of US$2.9 million to foreign exchange gain in Q3 FY15 of US$5.4 million", said the offshore support vessel owner early on Friday morning.

Revenue dipped 3 per cent to US$390.7 million in Q3 FY15. This was due to a decrease in revenue of US$21 million from the subsea services division and US$16.1 million from the offshore support and production services division.

However, the decrease was partially offset by a US$25.7 million increase in revenue from the marine services division.

Given the current oil price environment, Ezra thinks that reduced oil & gas spending and activity is likely; it thus expects to face "strong headwinds" in the foreseeable future.

Your feedback is important to us

Tell us what you think. Email us at

For the nine months ended May 31, 2015, earnings per share stood at 5.09 US cents, up from a restated 3.38 US cents in the corresponding period a year before.

No dividend was declared.

Ezra shares were last traded at 15.7 Singapore cents apiece.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to