A leading mining equipment, technology and services (METS) company, IMDEX Limited (ASX: IMD) is all set to enter FY20 with a stronger business and new technologies to generate additional revenue and earnings.
The company’s solutions are designed to enhance the efficiency and profitability of clients’ operations by increasing drilling productivity, streamlining processes and delivering more quality data and timely information for critical decision making.
The company is currently operating in all the key mining areas, including Africa, Asia Pacific, Europe and the Americas, providing local and timely support for its clients. The company has a clear objective of delivering sustainable earnings growth for its shareholders via a two-tiered strategy, which includes organic and transformational growth. Organic growth focuses on protecting and growing its core business, while transformational growth is an extension into the new market segments within exploration, mining and production.
With strong competitive advantages, including excellent engineering and R&D capabilities, IP protected technologies and economies of scale, the company is progressing towards its vision of becoming a leading provider of real-time subsurface intelligence solutions to the global minerals market.
The company is focused on protecting and growing its core business by enhancing and extending technical leadership, technology integration and increasing share of wallet. The company is progressing towards the commercialisation of its drilling productivity technologies; COREVIBE™ and MAGHAMMER™, both of which are expected to generate additional revenue and earnings from FY20.
Further, the company is on track for the further extension into mining with Drill & Blast technologies to generate more sustainable revenue from FY20. Benefiting from the recovery in exploration spend, the company is entering FY20 with a stronger business.
For the half year ended 31st December 2018, the company reported a revenue from ordinary activities of $125.045 million, up 19% on the previous corresponding period (pcp). Further, the company reported a profit after tax of $13.527 million as compared to the profit of $10.634 million in pcp. As at 31st December 2018, the company had a robust balance sheet with a strong net cash position $26.766 million.
The company’s executive management team includes highly experienced Mr Bernie Ridgeway, serving as the Managing Director of the company. In over 35 years of experience, he has worked with various public and private companies as a Business Owner, Director and Manager.
The company’s executive management team also include Mr Paul Evans, serving as Chief Financial Officer and Company Secretary of IMDEX Limited. With his extensive experience in commercial, general management and financial roles, Mr Evans is making a significant contribution to the company’s executive management team.
In the last one month, the share price of the company increased by 9.84% as on 9th May 2019. At market close on 10th May 2019, the stock of the company traded at a price of $1.045, with a market capitalisation of $401.55 million. It’s current PE multiple stands at 16.33x, and its last EPS was noted at $0.065.
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