Mincon Group plc Reports Trading Update for the First Quarter to 31st March 2024

Mincon Group plc designs, produces, and sells rock drilling tools. Its products are used in the mining exploration, oil and gas production, water well drilling, geothermal drilling, and seismic drilling sectors. Net sales break down by activity as follows: - drilling tool sales (81.8%): conventional down-the-hole hammers, inverted circulation down-the-hole hammers, and horizontal directional drilling systems. The group also offers training and technical support services; - distribution of third-party products (18.2%): drilling platforms, sludge pumps, insertion grinders, and lubricants. At the end of 2023, Mincon Group plc had 9 manufacturing sites located in Ireland, the United States (2), Finland, Sweden, Australia, the United Kingdom, Canada and South Africa. Net sales are distributed geographically as follows: Ireland (1%), Europe-Middle East-Africa (47.5%), the Americas (42.4%) and Australasia (9.1%).