Boart braces for pain

Boart Longyear, stung by a costly debt refinancing, predicts further weakness in its operations

The worst has yet to materialise for Boart Longyear (BLY).

The drilling company has forecast continued reduction in demand for its drilling rigs, with utilisation falling to just 45% in the past fortnight from 50% in August and 70% in June last year.

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