25th May 2016 07:40
LONDON (Alliance News) - Rock drilling engineer Mincon Group PLC on Wednesday said first quarter revenue grew, primarily due to the contribution made by acquisitions.
Mincon said sales of its products rose across regions in the first quarter year-on-year, and the company increased its market share.
The Irish company also noted the first quarter is traditionally its quietest quarter due to winter shutdowns in key markets.
Mincon's gross margin grew to 40% in the first quarter from 38% a year earlier, and it said its pretax profit for the quarter was up 10%.
The group said it anticipates some improvements in its markets over the course of 2016.
Mincon shares were untraded on Wednesday morning, having last traded at 57.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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