Maridive & Oil Services has announced the financial results of the year ending on 31 December 2023, during the Board of Directors meeting held on 13 May.

The company’s revenues grew by 82%, reaching $186 million, compared to $102 million in the previous fiscal year.

Maridive’s gross profit reached $91 million, increasing by 202% from $30 million in the previous year. Meanwhile, net EBITDA improved by 317% recording $103.7 million, compared to $47.8 million a year earlier.

The company’s financial improvements were achieved thanks to favorable market conditions; strategic expansion; service diversification; and cost management, the company said.