Master Drilling still pumping cash

JSE-listed specialist drilling company Master Drilling is clearly not feeling the pressure that the majority of mining companies are currently facing. The company – whose raise bore drilling (RBD) technology drills holes faster, safer and using less manpower than traditional shaft-sinking methods – announced another set of positive results on Tuesday.

22.9% Increase in ZAR Headline Earnings Per Share

Master Drilling Group Limited (Master Drilling; JSE: MDI), providers of specialised drilling services worldwide, has announced a 22,9% increase in ZAR headline earnings per share from 61,0 cents to 75,0 cents. Profits were up by 11% to US$ 10.4 million, from US$9.3 million and the Group saw a 10,4% increase in US$ headline earnings per share to 6.3 cents from 5.7 cents.

Master Drilling remains optimistic with headline earnings up, focused on diversifying

JSE-listed drilling services provider Master Drilling has declared a 22.9% jump in headline earnings from 61c to 75c for the six months ended June 30. Print Send to Friend 0 0 At its results presentation in Johannesburg on Monday, the group also noted a profit of $10.4-million, up by 11%, and cash generated from operations of $24-million, an increase of 175.3%, all while facing an economic downturn in the global commodity sector.

Master Drilling defies downturn with profit

Master Drilling Group defied the slide in commodity prices and business activity in the mining sector by posting an 11% increase in interim taxed profits of $10.4m.Master Drilling Group offers services in traditional drilling and exploration, but its flagship technology is raise bore drilling which allows for excavation between two underground levels.”The economic downturn in commodities caused us to rely heavily on the four strategic pillars of the group,” it said in comments to its interim results ended June 30.

Master Drilling improves interim profit

Master Drilling, a leading raise bore drilling company, reported improved interim profit despite a 6% drop in revenue.Master Drilling, which listed on the JSE in 2012, reported attributable profit of $9.3m for the six months to end-June, an 11% increase compared to the same period a year earlier.Revenue, however, fell 7.5% to $60.3m. In rand terms, revenue was 3% higher.