Maridive & Oil Services’ standalone operating revenues rose 11% year-on-year (YoY) to $43.09 million in the first half  (H1) of 2026, according to an unaudited disclosure filed with the Egyptian Exchange (EGX).

The company recorded a standalone net profit of $4.55 million in H1 2026, reversing a $22.32 million net loss in the same period of 2025.

Maridive said the prior-year loss was affected by exceptional provisions totalling $24.47 million. The provisions included $23.90 million for expected credit losses on amounts due from the subsidiary, Valentine Maritime Limited, as well as $0.57 million for the impairment of a marine unit held for sale.

“These results demonstrate the company’s commitment to its future strategic plans to improve operational efficiency and strengthen its financial performance while maintaining its competitiveness in the market. The Company continues to explore new growth opportunities and enhance shareholder returns through well-planned strategies and service innovation,” the company said in the disclosure.

The figures were approved by Maridive’s board at a meeting held on September 6, 2026.

In the first quarter (Q1) of 2026, Maridive standalone results showed a 13% YoY increase in revenues to $20.64 million.

Founded in 1978 in Port Said, Maridive provides a wide range of services for the oil and gas industry, including offshore vessel operations, diving, subsea construction, maintenance, transportation, and logistics.