Cairo –  Maridive & Oil Services shifted to a consolidated net profit of $47.69 million in 2023, against a net loss of $106.34 million a year earlier.

Operating revenues soared to $186.47 million last year from $102.44 million in 2022, according to annual financial results.

The company recorded basic and diluted earnings per share (EPS) of $0.11 in 2023, versus a loss per share of $0.26 the year before.

During the first nine months (9M) of 2023, Maridive & Oil Services turned to a net profit after tax of $29.22 million from net losses of $29.09 million in 9M-22.

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