Ausdrill FY profit meets forecast

Group says it can find new work in the 'near term' after earnings fall on slowdown in mining in Australia, Africa.

Mining services firm Ausdrill (ASL) says it is optimistic on new work in the current year, as it embarks on a cost review amid falling commodity prices and uncertain demand in the sector after meeting its forecast for full-year net profit.

Ausdrill's share price jumped 14.2% to $1.45 at 1026 AEST after the company revealed net profit fell 19.4% to $90.4 million, from $112.2 million, within the company's April guidance for between $90 million and $96 million. 


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