Ausdrill Limited
(ASX:ASL) says it has responded well to challenging market conditions, reporting a net profit of $9.3 million in the half year to 31 December 2015.
The figure was a 105.3 per cent increase on the previous corresponding period, when the diversified mining company incurred a loss of $177.4 million.
Sales revenue was up 6.5 per cent on the previous half and EBITDA was up 5.4 per cent to $62.4 million.
Ausdrill says its maintained its strategy of deleveraging and made debt repayments of $46.5 million, while restricting capital expenditure to $6.1 million for the half.
In terms of outlook, the company says it expects demand for mining services to remain tight in the near term, with margin pressure stemming from tougher price competition.
