TheUS-listed company booked a profit of $8.4m for the three months ended 31 December2013 against a loss of $2.6m a year ago.

Revenue at the offshore vessel and tankeroperator was down 9.5% year-on-year to $327m. However costs fell 16.5% to$301.5m.

Operatingrevenue for the offshore sector was $148.4m compared with $156.2m in thepreceding quarter. Income from operations was $18.8m against $45.8m in 2012.

Thefourth