Maridive swings to profitability in Q1

Updated 6/12/2024 9:38:00 AM
Maridive swings to profitability in Q1

Arab Finance: Maridive and Oil Services (MOIL) recorded standalone net profits after tax of $608,658 in the first quarter (Q1) of 2024, versus net losses of $480,912 in Q1 2023, according to the financial indicators filed to the Egyptian Exchange (EGX) on June 12th.

Standalone revenues grew 12% year on year (YoY) in the three-month period, reaching $16.489 million, compared to $14.658 million.

Maridive Group is an Egypt-based company engaged in the provision of offshore marine and oil support services in the Middle East and North Africa Region.

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