Ezra net profit up 244% to US$22.4m

Group revenue was up 61% year-on-year to US$265.6 million for the third quarter ended 31 May 2012.

Ezra Holdings Limited said this was due mainly to the commencement of new subsea projects awarded after Ezra’s acquisition of the AMC Group in March last year.

EMAS AMC, the subsea division, was also largely the driver for the 53% increase in Ezra’s gross profit to US$44.4 million in 3Q FY12.

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