Pacc Offshore Services Holdings (POSH) has seen its efforts to diversify pay off in the first quarter as it boosted its earnings.
The Singaporean offshore vessel owner reported net profit of $4.4m for the period, after breaking even at the same stage of 2015.
Its revenue was pushed up by 2% to $58.7m while its EBITDA grew from $15.6m to $24m.
Gerald Seow, chief executive of POSH, said: “Despite all our business segments being affected by the negative impact of current market conditions, the offshore accommodation segment performed relatively well.
“Our
