The West

Swick has won another contract with mining giant Newmont.
Swick has won another contract with mining giant Newmont.

Driller Swick has lifted its first-half profit by 20 per cent to a record $5.25 million and lifted its interim dividend from half a cent to 0.6 cents a share fully franked.

The result was achieved on revenue of $76 million, up 9 per cent on the previous corresponding period.

The company said its first-half EBITDA of $16.1 million was also a record and represented an increase of 14 per cent over the previous corresponding period.

A total of 56 rigs from a fleet of 76 (including three client-owned rigs) were operating at the end of the period compared to 57 rigs in operation from a fleet of 69 (including three client-owned rigs) a year ago.

"Significant contract wins in North America and Australia will add to the rigs in work early in calendar year 2013," the company said.

Swick shares were off 1.5 cents, or 3.85 per cent, to 37.5 cents at 11.30am.

The West Australian

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