EZRA HOLDINGS LIMITED
5DN.SI
Ezra Holdings - RHB Invest 2016-01-11: Announced profit warning
- Ezra (EZRA SP) announced a profit warning last Friday for its 1QFY16 ended Nov 2015, projecting a net loss for the quarter vs profits in the period a year ago.
- The company stated that this is mainly attributable to the continuing depressed state of the oil and gas industry which has impacted activities in the global offshore marine and subsea industry.
- Its results will be released on 14 Jan 2016.
- This morning, its 71%-owned subsidiary EMAS Offshore reported results - delivering a net loss of USD3m vs core net profits of c.USD6m a year ago.
- We currently have a TRADING BUY on Ezra - we view that expectations for losses are already implicit in its c.0.2x P/B valuation.
Lee Yue Jer CFA
RHB Invest
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http://www.rhbinvest.com.sg/
2016-01-11
RHB Invest
SGX Stock
Analyst Report
0.33
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