Ezra Holdings' full year revenue up 28 per centNews // October 28, 2013
Ezra Holdings Limited says it has seen a "recovery of performance" in the fourth quarter of 2013, as EMAS AMC, Ezraís Subsea Services business, established a solid operational foundation for the group.
For the financial year ended 31 August 2013 the group posted revenue growth of 28 per cent to US$1.26 billion from US$984.2 million in the previous corresponding period. Fourth-quarter revenue in FY13 also increased 28 per cent to US$419.2 million from US$326.3 million in the same period last year.
The groupís revenue growth was led by the Subsea Services division, which independently contributed US$236.0 million of the Groupís revenue increase of US$277.9 million for the financial year. The significant increase in the number and value of projects undertaken by EMAS AMC in FY13, in comparison to the previous year, were the main drivers for the revenue increase.
The groupís Offshore Support Services (EMAS Marine) and Marine Services (which includes engineering and fabrication activities under TRIYARDS) divisions also recorded increases in revenue which in turn, contributed to the overall revenue growth.
The growth in revenue contributed to the 62 per cent jump in the groupís fourth quarter 2013 net profit after tax to US$13.5 million from US$8.3 million. In FY13, net profit after tax stands at US$64.1 million, dipping slightly from US$66.0 million recorded in the previous year.