Imdex profits up 88 percent for first half

Perth-based drilling products company Imdex Ltd has recorded a net profit after tax of $6 million for the first half of the financial year, an increase of 88 per cent on the previous period.

Earnings before interest, tax and amortisation for the group were up 161 per cent to $11.2 million, compared to the $4.3 million recorded in the previous corresponding period, and operating revenue was up 76 per cent to $53.1 million.

Imdex said in an announcement that, based on the company's performance, current market indications and business plans, its initial forecast of 45 per cent revenue growth would be exceeded for the full year.