Singapore: Ezra Holdings Limited has announced multiple contracts for projects in the North Sea and Asia Pacific valued at over $160m.
The contracts, across the group’s subsea services, offshore support services, and energy services divisions come as Ezra announced a 54% surge in revenue to US$278.7m and 44% jump in gross profit to $49.9m for the three months ended November 2012. Net profit however was down at US$6.8m, compared to US$13.3m for the previous corresponding quarter.
Star performer for the group was EMAS AMC, which contributed $86.2 million to the $98.2m increase in sales for the quarter, while its offshore support services division EMAS Marine added another $9m.
The new contracts are made up of projects in the North Sea and Asia for EMAS AMC to a value of up to $85m, five contracts for EMAS Marine worth a total of approximately $75m from international and independent oil companies while EMAS Energy has won a multimillion-dollar contract to decommission a pipeline in the Gulf of Thailand.
Lionel Lee, Ezra’s Managing Director, said: “The consistent performance of our businesses will enable us to continue to deliver success in our internationalisation strategy as we embark on our third decade of operations.” [14/01/13]
