The company said it lost $7m in the twelve months to 30 June 2012 versus a profit of $33.3m a year earlier.
Revenue for the full-year was down just over 7% to $47.8m, however costs fell by almost one half to $7.8m.
CH Offshore said it had made provisions of just under $44m in relation to what it described as “doubtful trade receivables”.
The
