Master Drilling forecasts earnings dip despite headline gains

Master Drilling Group Limited has issued a trading statement forecasting a decrease in EPS for the year ended December 31, 2024. EPS in ZAR terms are expected to be between 199.60 and 224.70 cents per share, a 10.5% to 20.5% decrease compared to the 251.00 cents per share reported in 2023. In USD terms, EPS is anticipated to range from 10.90 to 12.20 cents per share, a 9.9% to 19.9% decrease compared to the 13.60 cents per share in the comparative period. The company attributes the dip primarily to non-cash adjustments.