· Change of contribution mix improves Group’s margins
· EOC will continue to realign assets to ride demand for construction vessels on the back of strong E&P investment momentum
EOC Limited (EOC or the Group), one of Asia’s leading providers of offshore production services to the oil and gas (O&G) sector, posted a net attributable profit of US$2.1 million on a revenue of US$18.5 million for the first six months ended 28 February 2013 (1HFY13).
The Group’s sales were driven by its construction arm, which saw improved margin arising from its fleet. Currently, EOC’s construction and accommodation barges, Lewek Chancellor and Lewek Conqueror, as well as its flagship DP2 heavy-lift, pipe lay construction vessel, Lewek Champion, are on long term charters.
EOC’s Acting Chief Executive Officer, Mr Jonathan Dunstan, said: “The Group expects the market for offshore construction services to remain buoyant as the momentum of E&P investments continues to be strong.
In this respect, we...