19/02/2018 - 14:15

Imdex posts strong half-year results

19/02/2018 - 14:15

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Shares in mining equipment supplier Imdex have jumped 8.3 per cent today after the company announced a half-year profit of $10.6 million, with revenue up 28 per cent on the corresponding period last year.

Bernie Ridgeway says the results are partially a reflection of the turnaround in the resources industry.

Shares in mining equipment supplier Imdex have jumped 8.3 per cent today after the company announced a half-year profit of $10.6 million, with revenue up 28 per cent on the corresponding period last year.

Revenue for the period was $104.7 million, compared with $81.8 million in 2017, while underlying earnings were $20.1 million, representing a 49 per cent increase relative to last year.

Managing director Bernie Ridgeway said the results were partially a reflection of the turnaround in the resources industry.    

“Our pleasing results were due to the growing demand for our leading technologies, which enhance the efficiency and productivity of our clients operations, together with the continued broad-based recovery of the global minerals industry,” he said

“The increasing demand and recovery has continued into this calendar year, where January 2018 revenue was a record for that month.”

Shares in Imdex finished at $1.11.

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