Ezra Holdings, marine services provider in the offshore oil & gas sector, has posted net attributable profit (PATMI) of US$43 million ($62.8 million) for the nine months ended May 31 2009 (9M FY09), thanks to sturdy contributions from all three divisions.
This is a 33% increase from US$32.4 million in 9M FY08, after excluding the US$136.3 million net gain from the partial divestment of the group’s construction and production arm EOC in the previous year.
Group turnover also rose 58% y-o-y to US$236 million, as all three divisions performed well, says Ezra.
The offshore support services (OSS) and marine divisions both enjoyed a strong pickup in revenue, while the energy services division contributed US$46.1 million to overall turnover. In addition, both the OSS and marine businesses were able to achieve margin gains.
The OSS division, which made up 60% of group turnover for 9M FY09, saw improved sales, owing to the full nine-month contribution from two anchor handling tugs and three anchor handling, towing and supply (AHTS) vessels, as well as the seven-month contribution from its AHTS vessel, the Lewek Plover.
Meanwhile, the marine division benefited from increased procurement, equipment supply and engineering activities in Vietnam.
In May, Ezra raised $92.4 million via the placement of 78 million new ordinary shares at $1.185 apiece.