Investing
Capital Ltd Q3 revenue rises despite drilling income drop
© Reuters.
London-based mining-services firm, Capital Ltd, reported an increase in Q3 revenue to $79.7 million. This rise comes despite a decrease in drilling-related income to $51.2 million and the effects of seasonal influences.
The company’s mining revenue saw a substantial rise of 38.5% to $18 million. CEO Peter Stokes attributed this growth to the firm’s high-quality, diverse services.
Peering into the future, Capital Ltd forecasted its 2023 revenue within the range of $320-$340 million. The company also anticipates further growth into 2024, with the commencement of operations with Nevada Gold mines in the U.S.
However, even with these positive financial projections, Capital Ltd’s shares experienced a minor drop of 0.3% to 77.40 pence on Wednesday.
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