Aquirian reports full-year revenue of $32M

• Aquirian expanded its full-year revenue to $32 million, while its EBITDA increased by 193.6% during the period.
• The company concluded the financial year with $11.6 million in cash and cash equivalents following an $8 million capital raising.
• Operational growth was supported by its subsidiary Drillforce securing an initial $48 million contract with Brightstar Resources.

Mining services firm Aquirian (ASX:AQN) generated $32 million in full-year revenue following expanded operations across its business divisions.

The revenue figure represents a 22.8% increase compared to the prior corresponding period.

"These achievements, together with a strengthened balance sheet and continued investment across our Mining Services division, provide a strong platform for future growth," said Aquirian Managing Director Greg Patching.

The company reported that its subsidiary Drillforce secured a three-year contract valued at $48 million with Brightstar Resources (ASX:BTR).

Following the announcement, the Aquirian share price was unchanged at $0.40.

The business completed a deployment of its automated tracking technology across the entire Drillforce fleet during the year.

The company also stated that expansion works remain underway at its Wubin emulsion manufacturing facility.