Following a solid 2022 performance, JSE-listed Master Drilling achieved another good performance for the six months ended June 30, with revenue up by 12% year-on-year to $108.2-million , CEO Danie Pretorius says. Operating profit was up 22.8% to $21.2-million.
Following a solid 2022 performance, JSE-listed Master Drilling achieved another good performance for the six months ended June 30, with revenue up by 12% year-on-year to $108.2-million, CEOThe increase in revenue and operating profit follows a record 2022 despite difficult operating conditions experienced globally.
Master Drilling has a revenue pipeline of $517.1-million and a committed order book of $276.3-million. Master Drilling has further invested in businesses that provide proximity detection solutions and integrated data and resource management systems for mining. It is envisaged that the shaft boring machine will be commissioned in the first half of 2024 during the test sink of a 50 m deep shaft in South African hard rock.A second-generation mobile tunnel borer design is progressing well and will be completed and considered for further development during 2024.Master Drilling's operations globally enjoyed a profitable year, which it attributes to investments made over the past decade.
In the Democratic Republic of Congo, it continued its satisfactory performance with a long-term project. Operations in Mexico had a challenging performance in the period. Additional machines have been deployed to projects in other neighbouring countries in this area such as Nicaragua. Work continues on operational efficiencies to reduce overall costs.
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