Cairo – Mubasher: Maridive and Oil Services recorded $23.4 million (EGP207 million) losses in 2015, against a net profit of $7.1 million (EGP62.8 million) in 2014, according to the company’s unaudited consolidated financial statements.
The board of directors recommended freezing 2015 dividends and decided to keep mulling all offers received from investment banks to overhaul the company.
The company’s unaudited standalone profits declined 49.8% year-over-year to $7.8 million (EGP69 million) from $15.5 million (EGP137.2 million).
In the first nine months of 2015, the offshore services company reported $5.46 million net profits, down 50.7% from $11.1 million for the year ago period.
