Nov 26 Major Drilling Group International Inc
reported a 29 percent drop in quarterly profit on
Monday as many mining companies did not extend drilling programs
beyond their original budgets and as more projects were delayed
Net earnings were C$22.3 million, or 28 Canadian cents a
share, in the period ended Oct. 31. That compared with C$31.6
million, or 43 Canadian cents a share, in the year-earlier
period at the mine drilling company.
Analysts, on average, had expected earnings of 33 Canadian
cents a share, according to Thomson Reuters I/B/E/S.
Revenue fell 7 percent to C$199.6 million.