June 5, 2012 / 8:59 PM / 6 years ago

Major Drilling profit triples, demand strong

(Reuters) - Profit at Major Drilling Group International Inc (MDI.TO) tripled in its fiscal fourth quarter due to continued strong demand from mining projects around the world, the mine-drilling company said on Tuesday.

The company’s profit rose to C$30.7 million ($29.5 million), or 39 Canadian cents a share, in the quarter ended April 30. That compared with C$9.5 million, or 13 Canadian cents a share, in the year-before period.

Major Drilling posted record revenue of $237.2 million in the quarter, up 73 percent from a year earlier.

The Moncton, New Brunswick-based company is one of the world’s largest metals and minerals contract drilling service companies.

Reporting by Julie Gordon; Editing by Peter Galloway

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below