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KS Energy’s 2Q loss narrows to $0.6 mil on improved share of joint ventures

Michelle Zhu
Michelle Zhu8/14/2017 07:26 PM GMT+08  • 2 min read
KS Energy’s 2Q loss narrows to $0.6 mil on improved share of joint ventures
SINGAPORE (Aug 14): Energy services provider KS Energy Group announced a loss of $0.6 million for the 2Q17 ended June, narrowing significantly from the loss of $31.5 million posted in the same period a year ago.
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SINGAPORE (Aug 14): Energy services provider KS Energy Group announced a loss of $0.6 million for the 2Q17 ended June, narrowing significantly from the loss of $31.5 million posted in the same period a year ago.

This was largely due to improved share of results of joint ventures, combined with a smaller loss from operating activities as well as an improvement in revenue over the quarter.

Revenue for 2Q17 grew 17.2% to $15.1 million from $12.9 million a year ago, mainly due to higher revenue from the group’s drilling segment which more than offset the revenue decline seen from the engineering segment.

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