BH Global Marine: 1Q Rev was $34.9m +81.8%yoy +16.9%qoq with net profit at $3.8m +24.7%yoy +100.0%qoq. Spike in rev was due to new segment Engineering Services which contributed $13.4m, 38.5% of share of rev compared to $0.1m a year ago. All other segments also showed growth, Supply Chain Mgmt +7% yoy and Manufacturing +34%yoy due to Middle East orders...
Co will continue to develop its new business segment and looks to expand in Indonesia, Middle East and India. It expects rising oil prices to drive growth opportunities for the group. EPS was 0.78c and co trades at annualized P/E of 12.7x.
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