Capital Drilling profit slumps

Emerging market-focused Capital Drilling yesterday posted a 20 per cent slump in net profit after tax for the full year, down to $14.1m (£9.3m) from $17.6m in 2011. Jamie Boyton, executive chairman and interim chief executive of Capital Drilling blamed the “well-documented” mining slump in the second half of last year. However, the firm reported record revenues up 22 per cent to $158.9m, from $130.5m over the previous year.