
Ezion’s profit plunges 38.7% to US$30.3m in Q3
Demanding clients and reduced oil prices hurt earnings.
According to OCBC, Ezion Holdings’ net profit plummeted to US$30.3m in 3Q15, reflecting a steep 38.7% fall. As such, net profit stood at US$100.3m in 9m15.
Revenue also slid back 9.1% to US$86.2m.
The group had to deal with the one-two punch of decreased oil prices and rising client standards. Ezion tightened related operating expenditure to cope with the former issue. To assuage demands, the group will interchange units among clients and employ strategic modifications and upgrades.
To boost returns from existing assets, Ezion is mulling mergers and acquisitions, as well as strategic tie-ups.