Capital Ltd on Wednesday left its interim dividend unchanged, as its reported half-year results that were in line with the guidance it provided last month.
The London-based mining services firm reported pretax profit of $23.4 million for the six months that ended June 30, up 55% from $15.1 million a year before, on revenue of $154.3 million, up 12% from $138.1 million.
Earnings before interest, tax, depreciation and amortisation, adjusted for the accounting treatment of leases, was $43.9 million, up 10% from $39.9 million a year before, though Ebitda margin narrowed marginally to 28.5% from 28.9%.
Looking ahead, Capital guided for full-year revenue of $320 million to $340 million. This would be up from $290.3 million in 2022. Both Capital Drilling and Capital Mining expect to see revenue growth in the second half of the year, it said, due to the start or ramp-up of existing contracts. These include the potential restart of disrupted operations at the Meyas gold project in Sudan.
Capital guided for Ebitda margins of 25% to 30% in 2023 and beyond.
The company kept its interim dividend unchanged at 1.3 US cents.
Shares were down 2.3% at 83.48 pence on Wednesday morning in London.
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