September 5, 2012 / 8:28 PM / 5 years ago

Major Drilling posts record quarterly profit

Sept 5 (Reuters) - Major Drilling Group International Inc reported record quarterly earnings on Wednesday and the mine drilling company said demand for its services from senior and midtier miners remains strong.

The Moncton, New Brunswick-based company earned C$31.9 million, or 40 Canadian cents a share, in the period ended July 31. That compared with C$17.9 million, or 25 Canadian cents a share, in the year-earlier period.

Revenue in the quarter rose 45 percent to C$237.6 million as Major Drilling’s efforts to train more staff resulted in an increase in shifts and productivity.

The company also boosted its semi-annual dividend to 10 Canadian cents per common share.

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