Ezra Holdings Limited Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended May 31, 2016; Announces Fixed Assets Written Off for the Third Quarter of Fiscal 2016
For the nine months, the company reported loss attributable to the owners of the company of $548.15 million or 18.65 cents per diluted share compared to profit attributable to the owners of the company of $51.5 million or 3.07 cents per diluted share reported in the same period last year. Loss from continuing operations, net of tax attributable to owners of the parent was $473.8 million or 16.12 cents per diluted share against profit of $75.1 million or 4.48 cents per diluted share reported last year. Revenue was $389.2 million against $396.4 million reported last year. Loss from continuing operations was $459.6 million against profit from continuing operations of $104.3 million reported last year. Loss before tax from continuing operations was $503.5 million against profit before tax from continuing operations of $94.4 million reported last year. Net cash used in operating activities was $86.9 million against net cash generated from operating activities of $104.5 million reported last year. Purchase of fixed assets was $143.8 million against $235.9 million reported last year. Purchase of intangible asset was $0.08 million against $0.55 million reported last year. The decrease in revenue was due to a decrease in revenue of $79.3 million from Offshore Support and Production Services Division and a decrease of $13.5 million from Energy Services Division. As on May 31, 2016, the company's net asset value per ordinary share was 27.15 cents.
The company announced fixed assets written off of $5,000 for the third quarter ended May 31, 2016.