EMAS Offshore narrows 1Q net loss on higher finance and other income

SINGAPORE (Jan 11): EMAS Offshore has reported a net loss of US$2.2 million ($3.2 million) for 1Q17, 31% smaller than the net loss of US$3.2 million 1QFY16.

For the quarter to November, revenue decreased by 15% to US$42.5 million amid the slowdown in the offshore segment.

In particular, the group said that demand for the shallow water platform support vessels and anchor handling, towing and supply vessels was weak during the period.

---

Related Stories

• Uni-Asia Group well placed to gain from surging charter rates: PhillipCapital
• EMAS Offshore's 2Q losses narrow but still faces creditor claims
• Forecast: Strong headwinds and cloudy skies for this offshore stock

---