Housing and feeding fly-in-fly-out mine workers has proven a lucrative business for Civeo Corporation, with the New York-listed group posting an 18 per cent jump in Australian profits and flagging further gains as the Queensland coal sector picks up.
The $US51.9 million ($74.1 million) profit generated by Civeo’s Australian division offset losses in Canada and vindicated the company’s decision to grow its Australian footprint by acquiring more camps.
