Ezra Holdings has reported a 17.5% year-on-year growth in net attributable profit to $28.8m for the first half year ending 28 February.

The Singapore-based marine services provider said its operating cash flow was $11.7m compared to $0.3m during the same period a year earlier.

The company’s group revenues declined 23% to $135.4m due to offshore support vessels in transition to new charters and the nature of deepwater sub-sea work.

The group said its three core businesses concluded new contracts worth $79m, reflecting the firm’s demand in the offshore oil and gas sector.

Ezra’s offshore support services division won new and renewal charters for anchor handling, towing and supply vessels while the marine services unit was awarded a $50m engineering and fabrication contract.