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.
