Ezra profits up in first half

Singapore: Ezra Holdings reported an 18% jump in profits for the first half of the year. The Singapore-listed offshore vessels owner and operator said profits for the six month period ended 28 February 2010 were $28.8m, up 17.5% on the same period a year earlier. The company concluded $79m worth in new contracts for its three core businesses in the six month period. Ezra's first half revenues declined 23% to $135.4m. "The strong demand for our comprehensive range of sophisticated vessels, equipment and services is backed by high oil prices and higher capital expenditure coming through from the world's oil majors," said Lionel Lee, managing director of Ezra. "We will continue to focus on extracting more value from all our assets and expanding our capabilities, especially our reach in the deepwater segment." [12/04/10]