Brandrill has reported a 75 per cent slump in its full-year net profit on the back of a steep fall in revenues and tightening of competitive pressures on margins in the second half of the 2009 financial year.
Mining services companies Brandrill and Ausdrill have proposed a friendly scrip merger to create whay they say will be a larger, more diverse company able to better serve existing clients and with greater financial capacity to fund future growth.
Henderson-based drill and blast company Brandrill Ltd has recorded a net profit after tax of $8.1 million, up slightly on the previous year's result, after the company increased pre-tax profits by 64 per cent.
Henderson-based drill and blast company Brandrill Ltd will go on an acquisition drive, acquiring the exploration drilling arm of Kalgoorlie-based Strange Drilling and a stake in a haul truck lightweight tray business for $30 million.
Henderson-based drill and blast company Brandrill Ltd anticipates a 10 per cent fall in its before tax end-of-year profit, after activity levels for the first four months of the calendar year fell below original expectations.
Henderson-based drill and blast company Brandrill Ltd has announced plans to acquire the coal drilling management services business of Queensland-based US company P&H MinePro Services, after posting an 8 million net profit for 2005-06.
Technology from Henderson-based drill and blast company Brandrill Ltd, through its subsidiary RockTek Ltd, has played a key role in the successful rescue of the two miners trapped 1km underground at the Beaconsfield Mine.