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Improved performance 'a validation' of Capital Drilling's strategy

Capital Drilling Ltd's (LON:CAPD) chairman Jamie Boyton tells Proactive Investors 2018 was a strong year for them - especially in the second half.

The company reported fourth-quarter revenue at US$30.5mln, down 1% from US$31mln in the preceding three month period, but, up 12.5% compared to the same quarter a year ago.

Operational activity improved with utilisation rates measuring 59% at the end of the quarter, versus 47% in the comparative quarter of 2017, thanks to increased exploration activity in West Africa and Botswana.

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