08 Apr '11, 9am

EMS ENERGY: A Turnaround Play With Promising Engines Of Growth

Following several years of being mired in red ink, EMS Energy (EMS) has finally returned to the black for the full year ended 31 December 2010 (FY10). EMS’ profit for the year attributable to shareholders hit S$0.7 million, which was a marked turnaround from the loss of S$4.07 million in 31 December 2009 (FY09). A key contributing factor was EMS’ decision to divest its loss-incurring environmental and water operations which was completed in June 2010. This business was inherited by the company when it carried out a reverse takeover of Eco Water back in 2007. More importantly, the Catalist-listed company has put in place two promising growth engines, namely its engineering equipment services (EES) as well as oilfield services and supplies (OSS) businesses, which raked in revenue of $45.88 million in aggregate for FY10. Enabling Energy For Life Accounting for 61.5% of EMS’ F...

Full article: http://www.sharesinv.com/articles/2011/04/08/ems-energy-a...

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