Mincon Group shares jumped on Friday after the rock-drilling tool group upgraded its full-year guidance after strong third-quarter trading.
Revenue for the first nine months rose 28% year on year.
The group said growth was driven largely by the construction sector, where its “spiral flush” drilled-foundations technology has gained traction, particularly in North America, where it is working on major infrastructure projects running into 2027.
It also won two significant new contracts in Sweden. Its mining business grew across Africa, Australia and North America.
The company said higher raw material costs had squeezed margins, which it partly offset with modest price rises, but those pressures have since eased.
With higher volumes, it expects margins to improve through the rest of the year. As a result, Mincon now expects full-year revenue and EBITDA to beat market expectations.
This is all good news for investors, and shares rose 9% on Friday.