AJ Lucas (AJL) has benefited from a material recovery in profitability from its Australian onshore drilling division, with underlying EBITDA in H119 (31 December 2018) of A$13.1m (17.2% margin), up from A$5.5m (9.7% margin) in the previous year. High rig utilisation and strong coal mine degassing demand support our forecast of revenue sustained at close to H119 levels (A$76.2m). AJL’s track record and tier 1 client relationships support management guidance of FY19 drilling underlying EB
13 May 2019
AJ Lucas Group - Drilling recovery, but a growing debt pile
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
AJ Lucas Group - Drilling recovery, but a growing debt pile
AJ Lucas Group Limited (AJL:ASX) | 0 0 -2.6% | Mkt Cap: 278.7m
- Published:
13 May 2019 -
Author:
Sanjeev Bahl -
Pages:
8
AJ Lucas (AJL) has benefited from a material recovery in profitability from its Australian onshore drilling division, with underlying EBITDA in H119 (31 December 2018) of A$13.1m (17.2% margin), up from A$5.5m (9.7% margin) in the previous year. High rig utilisation and strong coal mine degassing demand support our forecast of revenue sustained at close to H119 levels (A$76.2m). AJL’s track record and tier 1 client relationships support management guidance of FY19 drilling underlying EB