Shares in Shannon-based engineering firm Mincon jump on improved profits and sales

The group said revenue for the six months to the end of June rose 8%, year-on-year, to €64.7m.

Mincon has diversified away from exploration services into construction 

Shares in Shannon-based engineering services group Mincon jumped by as much as 8% on the back of it posting a strong set of first-half results showing that it has largely avoided any widespread impact from the Covid-19 pandemic.

The group, which traditionally makes drilling equipment for the mining and exploration sectors, said revenue for the six months to the end of June rose 8%, year-on-year, to €64.7m. Gross profit was up 13% at €23.5m and operating profit was 21% ahead of the same period last year at €8.3m.