EMAS Offshore Limited Announces Revised Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended 31 August 2016; Reports Impairment Charge for the Fourth Quarter of 2016
For the year ended 31 August 2016 net loss stood at USD 443.939 million as compared to USD 218.962 million as previously reported. Revenue was USD 167.579 million against USD 167.579 million as previously reported. Loss from operations was USD 479.096 million as compared to USD 254.119 million as previously reported. Loss before tax was USD 486.526 million as compared to USD 261.549 million as previously reported. Loss after tax was USD 490.305 million as compared to USD 265.328 million as previously reported. Loss per share was 1.12 cents against 0.61 cents as previously reported.
The Group assessed the carrying value of its fleet of vessels and recognised an impairment charge amounting to USD 57.3 million in the fourth quarter of fiscal year 2016.