Saturday, 11 April 2015

[Straits Times] Profit after tax a better show of performance

FOR investors to get a better understanding of Ezra Holdings' financial performance, it would be more meaningful to look at our adjusted profit after tax (PAT) ("Ezra suffers steep drop in Q2 earnings", Thursday and "Oilfield services firm Ezra looks to raise funds through equity to refinance debt",

ST Online, Wednesday).

This is because the adjusted PAT is a better reflection of the company's recurring profits, and excludes the company's gains or losses from disposal, write-offs or impairment of fixed assets; impairment of goodwill; and gains from bargain purchase or reclassification, due to the consolidation of our subsidiary, Emas Offshore.

It reflects a 20 per cent year-on-year drop for the quarter instead.

Investors are encouraged to refer to the company's announcements and accompanying news releases on the Singapore Exchange website for more information.

Eugene Cheng

Ezra Group Chief Financial Officer