Emas Offshore Limited announced revised unaudited consolidated earnings results for the fourth quarter and full year ended 31 August 2016. Net loss for the three months ended 31 August 2016 stood at USD 323.462 million as compared to USD 98.5 million as previously reported. Revenue was USD 52.242 million against USD 52.242 million as previously reported. Loss from operations was USD 314.191 million as compared to USD 89.214 million as previously reported. Loss before tax was USD 320.487 million as compared to USD 95.510 million as previously reported. Loss after tax was USD 323.462 million as compared to USD 98.485 million as previously reported. Loss per share was 0.74 cents against 0.22 cents as previously reported.

For the year ended 31 August 2016 net loss stood at USD 443.939 million as compared to USD 218.962 million as previously reported. Revenue was USD 167.579 million against USD 167.579 million as previously reported. Loss from operations was USD 479.096 million as compared to USD 254.119 million as previously reported. Loss before tax was USD 486.526 million as compared to USD 261.549 million as previously reported. Loss after tax was USD 490.305 million as compared to USD 265.328 million as previously reported. Loss per share was 1.12 cents against 0.61 cents as previously reported.

The Group assessed the carrying value of its fleet of vessels and recognised an impairment charge amounting to USD 57.3 million in the fourth quarter of fiscal year 2016.