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Flash Update: Q3 Trading Update

  • 15 Oct 2019

Flash Update: Q3 Trading Update


Capital Limited (CAPD:LON) | 63.5 -0.3 (-0.8%) | Mkt Cap: 119.9m


  • Tamesis Partners
    • David Baker

    • 5 pages

Construction contractors image


 
Construction contractors image


Capital Drilling (LSE: CAPD) this morning provided its Q3/2019 trading update. The key ARPOR (average monthly revenue per operating rig) metric (see fig 1.) is below our forecasts but revenue is slightly ahead (due to non-drill revenue from other businesses including MSA labs). There are also new contract wins starting in Q4 which has led us to slightly upgrade our FY/2019 revenue forecasts to US$115.5 million.


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Flash Update: Q3 Trading Update


Capital Limited (CAPD:LON) | 63.5 -0.3 (-0.8%) | Mkt Cap: 119.9m


  • Published: 15 Oct 2019
  • Author: David Baker
  • Pages: 5
  • Tamesis Partners


Capital Drilling (LSE: CAPD) this morning provided its Q3/2019 trading update. The key ARPOR (average monthly revenue per operating rig) metric (see fig 1.) is below our forecasts but revenue is slightly ahead (due to non-drill revenue from other businesses including MSA labs). There are also new contract wins starting in Q4 which has led us to slightly upgrade our FY/2019 revenue forecasts to US$115.5 million.



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