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Stocks to watch: EMAS Offshore, Triyards, Yuuzoo
THE following stocks had announcements that could affect trading activity on Thursday.
EMAS Offshore's Q1 FY15 net profit for the three months ended Nov 30, 2014, jumped more than 10 times to US$148.4 million due to a US$137.5 million gain from the completion of the consolidation of EOC Limited and EMAS Marine on Oct 3, 2014, and as a result of reverse acquisition accounting. However, its revenue over the same period slumped 9 per cent to US$72.7 million, mainly from the return of a leased-in third party vessel to its owner in the second half of FY2014 and weakness in the shallow water platform support vessels segment.
Triyards Holdings' Q1 FY15 net profit for the three months ended Nov 30, 2014, climbed 13 per cent to US$8.2 million, mainly due to higher margins from an offshore fabrication project and different mix of projects at their respective completion stages. Revenue over the same period tumbled 37 per cent to US$56.7 million, as Q1 FY14 had recorded higher contributions from a subsea construction vessel, Lewek Constellation, and three self-elevating units (SEUs), all of which were either fully completed or at final completion stage as at Nov 30, 2014.
Yuuzoo Corporation's shares surged 10 per cent to S$0.44 on Wednesday. On Thursday, it announced that it is in advanced stages of finalising the definitive agreements relating to the proposed acquisition of Infocomm Asia Holdings, an operator and distributor of online games in South-east Asia.