Deep Sea Supply more profitable in first quarterCompany News // May 14, 2014
Deep Sea Supply has reported consolidated revenues of US$35.4 million and
operating expenses of US$17.9 million for the first quarter of 2014. This resulted in EBITDA of US$18.6 million and EBIT of US$11.2 million. Following expenses of US$7.3 million, pre-tax profit was US$4.0 million.
Compared with last quarter, revenues increased by US$7.1 million or 25 per cent. The main reasons for the increase were commencement of long term contracts for PSVs
delivered in the fourth quarter of 2013 and first quarter of 2014 and improved utilization of large AHTS vessels.