StockMarketWire.com - Mining services company Capital Limited reported revenue rose by nearly a fifth as utilisation rates improved in the first half of the year.

For the period 1 January to 30 June 2020, revenue increased 18.8% to $65.1m on-year.

Fleet utilisation in the first half of the year was up 9.6% to 57%, driven by capacity increases on existing operational sites.

Second-quarter revenue rose 17.5% to $32.6m on-year.

'Improving gold markets have positively impacted cash flow of mining companies, which is expected to continue throughout the second half of the year,' the company said.

'Early indicators suggest there will be strong demand for drilling services following the completion of the West African wet season,' it added.

The company will announce its half year results and provide a further operational update on 20 August 2020.




At 8:29am: [LON:CAPD] Capital Drilling Ltd share price was +4p at 66.5p



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