Ausdrill releases FY19 Q1 results for Barminco

Company News

by Rachael Jones

Diversified mining services company Ausdrill (ASX:ASL) has released the first quarter financial year 2019 business update for its wholly owned subsidiary, Barminco Holdings.

They report Barminco's EBITDA is up 23.7 per cent on the prior corresponding period.

Revenue has seen an uplift a result of increased scope at key sites and the Mt Colin ramp up.

All sites continue to perform to target.

Ausdrill’s acquisition of Barminco completed on 31 October 2018.

Shares in Ausdrill (ASX:ASL) closed 4.1 per cent higher to $1.40 yesterday.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.