Master Drilling reports 40% increase in profit

Master Drilling Group Limited has announced a 40.4% increase in profit to R100 million (US$9.3 million) and a 29.2% increase in headline earnings per share (HEPS) to 61.0 South African cents for the six months ended 30 June 2014.

As at 30 June 2014, the group had committed orders totalling R2.1 billion (US$200 million).

“Our order book for 2015 onwards reflects the success of our business model, particularly our strategy to diversify across commodities and mining stages,” says CEO Danie Pretorius.

“With the 11-week platinum strike and delays in commissioning some of our recent projects behind us, we look forward to completing the expansion of our capital fleet scheduled for deployment in 2015.”

Consistently focused on expanding its global footprint, Master Drilling believes that growth into the rest of Africa will be achieved from its solid South African base, and in partnership with major blue-chip mining companies.

To sustain this growth, the company believes that it is imperative to expand its services beyond raisebore drilling: a method of drilling ore passes and ventilation shafts, required for production in an underground mine, without the use of explosives.

Master Drilling has already made significant progress by diversifying its service offering in presenting solutions to specific challenges faced by customers worldwide. The quality of this service offering is continuously improved by ongoing research and development into mechanisation, automation and remote drilling services.

The group upholds a business strategy aimed at growing its reputation as a leading, global specialised drilling services group – and delivering long-term, sustainable growth through further development and expansion of its drilling services.

Queries:

Russell and Associates
Edith Leeson +27 11 880 3924
edith@rair.co.za