Mermaid Maritime has seen its profit for the third quarter halved while it prepares for a share capital increase.
The offshore vessel owner booked a profit of $7.5m in the three months to the end of September, against $15.3m a year earlier.
Its revenue for the period stood at $51.1m, down by 46.4%.
Total expenses also fell from $87.6m to $46.5m in the third quarter.
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