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By Elena Vardon
Capital Ltd. on Wednesday backed its 2023 revenue guidance, and said it sees a strong second half and expects three, quality contracts to start and posted an increase in its second-quarter revenue, despite some temporary operational interruptions.
The Africa-focused mining services company reported $76.5 million in revenue for the three months end June 30, compared with $71.2 million for the same quarter last year.
Average monthly revenue per operating rig was $183,000 in the period, 7.0% ahead on year but 4.7% lower on quarter, it said.
Its revenue guidance for the year remains in the range of $320 million to $340 million, it said.
“This will be driven across all business divisions, with the Ivindo iron ore mining contract commencing in Q3 2023, the world-class drilling contracts at Ivindo iron ore and Barrick’s Reko Diq project announced earlier in the year ramping up through Q3 2023, and also MSALABS continuing to build its global network of laboratories,” Chief Executive Peter Stokes said.
Write to Elena Vardon at [email protected]
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