Ezra warns of strong headwinds ahead

Singapore

EZRA Holdings warned of strong headwinds, as it swung to a net loss of US$3 million for its fiscal third quarter ended May 31 (Q3 FY15), from a net profit of US$8.3 million a year ago.

"The offshore services industry continues to experience significant challenges in its growth outlook in the light of the current oil price environment which would likely lead to reduced oil & gas spending and activity," it said. "The group is likely to face strong headwinds in the foreseeable future."