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Monday, March 7, 2011

PDAC-Boart sees strong growth on surge in exploration, (BLY)

Boart Longyear (BLY.AX), the world's largest provider of drilling services to miners, expects solid earnings and revenue growth this year, as strong metal prices push miners to boost exploration spending. Boart expects its revenue to rise about 20 percent to $1.75 billion in 2011, said its chief executive, adding that earnings before interest, taxes, depreciation and amortization are expected to rise 35 percent to $300 million. The company expects much of its growth to come from regions outside its traditional strongholds.

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