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Boart Longyear Limited (ASX:BLY) has confirmed it’s on track to meet and even exceed its revenue and earnings guidance in the full 2011 financial year.

The exploration group expects annual revenue of $US1.9 billion and annual EBITDA of $US330 million. 

Boart Longyear says given the current strength of market demand its performance may even exceed both of these figures.

Growth is expected to be underpinned by its new Boart Longyear Financial Services arm and sales from water drilling services and sonic equipment.

In the first half of 2011 financial year, Boart Longyear reported a net profit of $68.985 million.