Capital recovery underway

Production drilling contracts have fortified Capital Drilling's (LN: CAPD) earnings base, but the company is poised like a number of others for a sustained rebound in exploration spending, which seems to be on the cards. Capital's latest results provide more evidence a corner has been turned in the sector.

Staff reporter

The Mauritius-headquartered company's 2017 after-tax profit of US$5.2 million compared with a $4.8 million net loss for the previous 12 months.