Ausdrill Limited
(ASX:ASL) expects to increase its revenues by at least 20 per cent and achieve underlying net profit growth of 15 per cent for the current financial year.
The mining service provider says its full year outcome is dependent on the continued ramp up of its new Syama project in West Africa.
Ausdrill anticipates its first half to be impacted by prevailing market conditions, namely a slowdown of activity in the iron ore and coal sectors, as well as a slowdown of operations in Burkina Faso.
Market recovery is forecast for February of next year, with Ausdrill confident its progressive redeployment of mining equipment will boost its earnings in its second half.
Ausdrill generated a net profit of $112.2 million in fiscal 2012.
