Vallianz’s net profit remains stable at $7.3m in 1Q15

Higher profits were offset by admin expenses and finance costs.

The business environment in the oil and gas industry as of late has brought tremendous challenges to oil and gas players.

Vallianz, a provider of offshore support vessels and integrated marine solutions to the industry, today reported a steady net profit of US$5.5 million for the three months ended 31 March 2015. It remained stable compared to US$5.45 million in 1Q2014, as higher gross profit and share of profit of associate was offset by mainly increases in administrative expenses and finance costs.

In a media release, CEO of Vallianz, Ling Yong Wah says, “Vallianz was still able to deliver a respectable set of results in 1Q2015 amid one of the toughest periods in the history of the oil and gas industry. We believe our resilient performance can be attributed to the robust business model that we have built for the Group.”