Brief: Ezra Holdings FY ended Aug 31 2016 loss attributable to owners $887.7 million

Ezra Holdings

29/11/2016 17:44

Nov 29 (Reuters) - Ezra Holdings Ltd  EZRA.SI : 
    * FY revenue $525.1 million versus $543.8 million 
    * FY ended Aug 31 2016 loss attributable to owners $887.7 
million versus profit of $43.7 million 
    * No dividend has been declared or recommended for the 
current financial period reported on. 
    * "Group expects to face an extremely challenging outlook 
for the financial year ending 31 August 2017" 
    * Group is in discussion with various stakeholders and 
consolidating its funding requirements 
    * In event that group does not achieve a favourable and 
timely outcome it  will be faced with a going concern issue 
    * "Global economic environment continues to remain 
uncertain, particularly the oil & gas  industry" 
    * Major oil players  scaled down or delayed investing in new 
capex; trend is expected to continue & will have  negative 
impact on  co's financial performance 
    * Shallow water platform support vessels and anchor 
handling, towing and supply vessels segment continues to remain 
weak 
    * Allowance for doubtful debts & bad debts written off of 
us$126.1 million made in FY16 versus allowance for doubtful 
debts & bad debts of us$9.0 million in FY15 
    * Group's main joint venture companies have been negatively 
impacted by depressed conditions and reduced activity in oil and 
gas sector 
    * Group's net debt to equity ratio increased to 3.05 times 
as at end FY16 as compared to 0.77 times at end of FY15 
 
Source text for Eikon:  ID:nSN79qhJ0  
Further company coverage:  EZRA.SI  
 
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