KS Energy

KS Energy: 2Q14 net profit soared more than 30x to $46.7m on revenue of $59.8m, as bottom-line saw a one-off $55.1m contribution from other income, due to the disposal of plant and equipment during the quarter. The strong top-line was led by a 57.4% rise in drilling business due to the commencement of charter contracts in Indonesia and Vietnam. Gross margins rose to 50.8% from 42.5%, due to higher revenue booked in the Drilling segment.