Ezra's profits dipped 6.1% to US$6.3m

But revenue jumped 21.9% to US$339.8m.

According to OCBC Investment Research, Ezra Holdings reported its 1QFY14 results this morning, with revenue growing 21.9% YoY to US$339.8m (25% of our full-year estimate) but PATMI declined 6.1% to US$6.3m.

Here's more:

However, if we strip out exceptional items such as forex losses and a gain on dilution of interest in an associated company, we estimate core PATMI to come in at US$6.7m, or a 57.2% YoY jump. This formed ~20% of our FY14 core PATMI forecast, which we view as in line with our expectations.

Ezra’s Subsea Services division was its main revenue driver for 1QFY14, with a US$59.5m revenue increase thanks to more projects undertaken, additional variation orders and contribution from two new subsea construction vessels (delivered in 4QFY13).

This division also managed to record its second consecutive quarter of operational profit. We will provide more details after the conference call with management.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia