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Nico Middle East Ltd News

21 May 2014

Topaz Reports Revenue up 7%

Photo courtesy of Topaz

Q1 2014 revenue up 7% over Q1 2013 to US$ 89.4 million as a result of the expansion of the core vessel fleet and high vessel utilization. Topaz Energy and Marine has announced the results of its subsidiary Nico Middle East Ltd. (“NMEL”) for the three months ended 31 March 2014 (“the period”). The period has seen continued strong and profitable growth across the Group’s activities with revenues up 7% and EBITDA up 22%. This growth is primarily attributable to new vessels that have been added to the fleet and the improved utilization we have achieved across our core fleet.

20 Mar 2014

Topaz Revenue up 22%

Topaz Energy and Marine, a offshore support vessel company, announced the results of its subsidiary Nico Middle East Ltd. for the 12 months ended December 31, 2013. The period has seen continued strong and profitable growth across the group’s activities with revenues up 22% and EBITDA up 17%. This growth is primarily attributable to the additional vessels that have joined the fleet and the improved utilization (94.5%) it achieved across its core fleet. Topaz won a number of new contracts during the period resulting in a total backlog of medium and long-term contracts amounting to $1.1B.

17 Mar 2014

Topaz Reports NMEL Results

Topaz Energy and Marine, an offshore support vessel company, announced the results of its subsidiary Nico Middle East Ltd. (NMEL) for the twelve months ended December 31, 2013. According to Topaz, the period has seen continued strong and profitable growth across the group’s activities with revenues up 22% and EBITDA up 17%, which the company said is primarily attributable to the additional vessels that have joined its fleet and the improved utilization it has achieved across its core fleet. Topaz said it has focused on maintaining tight control of our costs and this has resulted in significant cost savings benefitting us in the short-term and over the coming years.

19 Nov 2013

Nico Middle East Revenues up for 2013

Topaz Energy and Marine, an offshore support vessel company, has announced the results of its subsidiary Nico Middle East Ltd. (NMEL) for the nine months ended September 30, 2013. The period has seen continued strong growth across the group’s activities with revenues up 27%. The company said its growth is primarily attributable to the additional vessels that have joined the Nico fleet and the improved utilization it has achieved across the core fleet. The company said it has focused on maintaining tight control of costs, resulting in significant cost savings for short-term and long-term benefits. Nico Middle East has also won a number of new contracts during the quarter which contributes further to our already solid backlog of medium and long-term contracts.