Kreuz Net Profit Up 60 Pct (Singapore)

Kreuz Holdings Limited, an integrated subsea service provider for the oil and gas industry, today reported that the Group’s net profit surged 60.3% to US$16.6 million for the third quarter ended September 30, 2013 (“3Q2013”) from S$10.4 million in the previous corresponding period (“3Q2012”).

Kurush Contractor, Executive Director and CEO of Kreuz, said: “I am pleased that Kreuz has achieved good results for 3Q2013. As a Group, Kreuz shall continue to exercise its mission of executing projects on schedule and within budget. This has had a positive impact on our results to-date and we have in fact already surpassed FY2012 revenue in 9M2013 while maintaining margins within expectations.”

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Press Release, November 04, 2013