COSL net profit surges 39.6% in first quarter 2025

China Oilfield Services Limited (COSL) (SSE:601808) today reported a net profit attributable to shareholders of CNY887.2 million for the first quarter of 2025, marking a 39.6% increase compared to CNY635.5 million in the same period last year. Revenues increased 6.4% year-over-year, reaching CNY10.7975 billion. The company attributed the strong performance to its enhanced international operations, full-service industrial chain integration, and higher utilization rates of large equipment, as well as the start of high day-rate projects for semi-submersible platforms. Operating cash outflow totaled CNY2,288.2 million for the period due to increased revenues not yet settled. Basic and diluted earnings per share both rose to CNY0.19, up 46.2%.