Kreuz Net Profit Up 60 Pct (Singapore)

Kreuz Net Profit Up by 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.”


Press Release, November 04, 2013