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Business Description: Imdex Limited (IMD) is a leading provider of drilling fluid products, advanced downhole instrumentation, data solutions and geo-analytics services to exploration, development and production companies in the minerals and oil and gas sectors worldwide. IMD has operational centres in key mining regions of the world, including Asia-Pacific, Africa, Europe, and the Americas.
Strategy Analysis: IMD growth strategy includes growing its global business, expanding into new markets (particularly oil and gas), maintaining product leadership through investment in research and development, increasing rental based revenue and achieving operational efficiencies. The company will continue to invest in product development and research to ensure that it remains capable of satisfying its customers' demands for the premium quality drilling fluids and state of the art instrumentation that they need to operate in remote regions and in conditions that are becoming increasingly difficult.
Imdex reported NPAT down 27% to $16.57m for the half-year ended 31 December 2012. Revenues from ordinary activities were $127.6m, down 8% from the same period last year. Diluted EPS was 7.79 cents compared to 10.86 cents last year. Net operating cash flow was $21.71m compared to $18.02m last year. The interim dividend declared was 2.5 cents compared with 3.25 cents last year.
The Age 19/06/2013 |
The bullish sentiments on the sharemarket earlier this year have been challenged by a correction that has taken the All Ordinaries Index down about 10 per cent from its May highs. Many investors are now asking how deep the current correction is likely to be.
The Age 19/06/2013 |
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The Age 19/06/2013 |
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The Age 19/06/2013 |
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The Age 19/06/2013 |
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The Age 19/06/2013 |
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