Earnings for the period stood at $12.9m, slightly less compared with $13.5m in the previous year.

Quarterly revenue marked a 6% increase to reach $446m while annual revenue was $1.5bn, setting a new record for the company.

EMAS AMC, Ezra’s subsea services division, was the main contributor of the group’s turnover.

At the end of the three-month period to September, the company’s backlog stood at $2.4bn