Ezra issues profit warning. Expects net loss

Ezra Holdings Limited, a Singapore-based offshore services provider, has issued a profit warning for the first quarter 2016 results.

The company said its board of directors expect Ezra Holdings will report a net loss, compared to the corresponding period of the previous year.

While it did not provide any specific number, in its announcement on Friday, Ezra said the expected loss was mainly due to the continuing depressed state of the oil and gas industry which has impacted activities in the global offshore marine and subsea industry.

Ezra is expected to reveal more details next week when it presents its 1Q FY2016 Results. The results are scheduled to be released on January 14, 2016.

In the meantime, the company has advised its shareholders and investors to exercise caution when dealing in the shares of the company.

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