The company posted a loss of US$23.2 million for the three months to 31 May, compared with a profit of US$5.2 million over the same period last year.
This came as quarterly revenue slipped from US$59.2 million a year ago to just under US$35.1 million this year, which Emas blamed on continual weakness in the offshore industry leading to markedly lower demand as well as general oversupply in the offshore support vessels sector.
“The
