Its earnings for the period were $0.2m, improving from a loss of $3.4m during the fourth quarter of 2013.

Revenue almost doubled from $7m to $13.8m in the three month period ended December.

The company managed to keep its operational expenses steady at $10m during the last quarter of 2014.

Oceanteam saw its full year profit stand at $3m, following a deficit of more than $4m in the full year 2013.

It