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FINANCIAL NEWS
Egypt’s Maridive reports USD22.8m loss in H1
16 Aug 2012
(MENAFN) Egypt’s Maridive and Oil Services reported USD22.8 million loss during the first half of 2012, versus USD36.2 million profit a year earlier, reported Reuters.
The largest oil services company by fleet size in the Middle East also reported USD132 million revenue in the period, down from USD204.8 million a year ago.
The company said that its offshore support vessel business incurred one-off expenses related to preparatory work on a project.
Maridive also said that stiff competition had an impact on the size and value of its offshore construction business’ contracts.
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