Oes Division News

Jaya Holdings Limited reported consolidated revenue of $201.8 million and net profit of $46.1 million for the financial year ended 30 June 2013. The group’s total revenue for the financial year under review was $201.8 million, 145% higher than the previous financial year. The increase in the group’s revenue was due to increased vessel sales and improved charter utilization. The Offshore Support Services (OSS) Division’s higher revenue for the financial year under review was due to improved utilization of 80% compared to 70% a year ago.

Jaya Holdings Ltd. reported consolidated revenue of $24.8 million and net profit of $4.0 million for the financial quarter ending March 31, 2013. The group’s total revenue for the quarter under review was $24.8 million, 53% higher than the previous corresponding quarter. The group’s increased revenue was mainly contributed by the Offshore Support Services (OSS) Division which revenue was at $24.4 million, 50% higher than the previous corresponding quarter. The period between December 2012 and February 2013 was a challenging one for offshore oilfield services providers. Jaya’s utilization, like that of many peers, came down due to various reasons, including seasonal factors, the delayed awards of contracts and changes in cabotage rules in Indonesia.