Vallianz’s 2014 net profit doubled to $27.67m

Mainly fuelled by a surge in revenue.

Vallianz saw an exceptionally high jump in revenue, from US$20m to US$153.7, resulting in a doubling of its net profit.

According to a media release, Vallianz Holdings Limited, a provider of offshore support vessels and integrated marine solutions to the oil and gas industry, today unveiled a sterling set of results for the financial year ended 31 December 2014 as net profit doubled to US$20.4 million from US$10.3 million a year ago.

Said Mr Ling Yong Wah, CEO of Vallianz, “FY2014 was indeed a watershed year for Vallianz. The Group not only chalked up a record financial performance, we also worked relentlessly to break into new markets and reinforced our capabilities to ensure that the building blocks are firmly in place for long-term growth. The Group will stay the course to propel Vallianz towards our goal of becoming a major provider of OSVs to the global offshore oil and gas industry.”

Mr Ling added, “Vallianz’s capabilities are concentrated on supporting shallow water oil field activities and we serve primarily national oil companies which have less volatile exploration and production spending patterns. Combined with our operating model of securing longer term charter contracts, we believe Vallianz is less susceptible to the current market volatility.”

To reward shareholders for their support of Vallianz, the Board of Directors is pleased to propose a final dividend of 0.05 US cents per share with respect to FY2014.