09:01 AM EDT, 05/12/2025 (MT Newswires) -- Geodrill ( GEODF ) , a drilling company based in West Africa, on Monday reported an increase in first-quarter profit.

The company reported net income of US$5.6 million, or earnings per basic share of US$0.12, for the three-months ended March 31, compared with US$2.1 million, or US$0.04 per share, a year earlier. Revenue increased to US$48.8 million in Q1 compared with US$34.7 million, a year-ago.

Geodrill ( GEODF ) expects demand for its services to remain strong despite tariff concerns, strong gold and copper prices to continue to fuel demand for drilling services, and pipeline of bidding to remain very active.

With the tailwind of a strong gold price and our expanded presence in South America, we are well positioned to further strengthen revenue growth," said Geodrill ( GEODF ) Chief Executive Dave Harper.

Shares of the company closed up 5% to $3.20 on Friday on the Toronto Stock Exchange.