Oil services firm Ezra warned it expects to register a net loss for the 2016 first quarter compared to earnings a year before.
“The expected net loss is mainly attributable to the continuing depressed state of the oil and gas industry which has impacted activities in the global offshore marine and subsea industry,” the company said in a financial update statement.
Details of the company’s financial performance will be disclosed when the Company announces its quarter one results on January 14.
In the meantime, Ezra has advised shareholders and investors to exercise caution when dealing in its shares.
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