The Singapore-quoted offshore specialist, which is due to report 2012 earnings on Friday 22 February, says red ink stems from losses at subsidiary Reflect Geophysical and low utilisation of a seismic survey vessel.
It also blamed impairments on investments, “provisions of doubtful debts” and lower utilisation at a shipyard that has been struggling to secure new orders.
Otto, which said the warning was based on a “preliminary review” of unaudited financial results for the financial year ended 31 December 2012, was
