Master Drilling CEO Danie Pretorius. Picture: FINANCIAL MAIL
Master Drilling, which is based in Fochville to the west of Johannesburg, said conditions in SA remained constrained as it reported a 14.7% drop in interim profit after tax to $8.3m. Revenue in dollars rose 3.8% during the period, however, boosted by its acquisition of Atlantis, which has operations in SA, India, Brazil and Zambia.
“The domestic macroeconomic environment remained mixed in first half of 2019, with market players, businesses and investors holding back decisions ahead of the national elections in May,” the statement read. “Although the elections yielded the anticipated result, the new dispensation’s work to place the economy on the recovery track is extensive.”
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