Kim Heng Offshore & Marine issues profit warning

Kim Heng Offshore & Marine Holdings Limited, an SGX-listed company offering rig management and supply base management services, today issued a profit warning.

The company said it has deemed it appropriate to issue a profit guidance in respect of the unaudited financial results of the Group for the second quarter ended 30 June 2014 (“2Q2014”).

Based on a preliminary review of its financial results, the Group expects to report a lower net profit for 2Q2014 as compared to the prior year’s corresponding period, despite a slight increase in revenue. This is mainly due to a higher proportion of lower margin projects undertaken in 2Q2014 and the delay in arrival of certain rigs.

The Singapore-based firm said it was in the process of finalising its results for 2Q2014. Kim Heng Offshore / Marine said it would provide more details in its financial results for 2Q2014 on or before 14 August 2014.

 

August 01, 2014

 

 

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply