Mermaid Maritime (SGX:DU4) posted an attributable loss to the owners of parent of $7.7 million during the first quarter of the year, against an attributable profit of $331,000 a year earlier, according to a Tuesday filing with the Singapore Exchange.
The company logged a basic loss per share of $0.0055 compared with earnings per share of $0.0002 in the comparable period.
Revenue was up 33% year over year to $117.2 million from $88.0 million, mainly due to an increased revenue from subsea transportation and installation services and cable laying services.
Shares of the marine infrastructure company were down nearly 2% in recent trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.