IMDEX shares lift as underlying NPAT beats expectations
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More news: IMDEX shares lifted in afternoon trade after the mining technology reported an underlying NPAT ahead of expectations.
At 3:40pm AEDT, shares in IMDEX had lifted 2.6% to $4, up 30.7% over the last 12 months.
Citi analyst William Park said he and the bank “remain upbeat” on the stock “despite headwinds from the strengthening AUD”. Park also said North America “is likely to be an engine of growth for IMD” and that IMDEX is “being conservative” in expecting a “step change in exploration levels at the back end of CY26.
IMDEX first-half NPAT falls 15% following legal settlement in previous period, acquisition integrations
The news: IMDEX has posted a 15% decline in first-half profit to $26.2 million compared to the $31 million posted in the previous corresponding period when a $9.1 million legal settlement was received and after a series of acquisitions and subsequent integrations.
The numbers: The profit figure is ahead of the market consensus expectation of $25 million, according to Visible Alpha. Revenue for the period lifted 16% to $247 million and underlying EBITDA lifted 22% to $78 million.
Underlying NPAT, which excluded the impact of the acquisition integrations and the legal settlement in the previous period, lifted to $28.8 million, up from $21.9 million in the previous period. This was ahead of the Visible Alpha expectation of $25.8 million.
A fully franked interim dividend of 1.7 cents per share was declared, up from 1.5 cents in the previous period and ahead of 1.62 cents per share expected.
The context: The drop off in statutory profit has been largely driven by a $9.1 million legal settlement that was received in the previous year. There has also been $2.6 million in net integration expenses related to the acquisitions of ESA, Datarock and Krux.
What they said: “I am delighted with the record 1H26 result, two things stand out to me. The first being our commitment to invest continually through the exploration cycle that continues to build on a portfolio of leading technology,” managing director and CEO Paul House said.
“The second being our unrivalled global network and team of IMDEX personnel around the world working relentlessly to deliver value for our customers. This combination has enabled IMDEX to once again outperform the market.”
The sources: ASX, Citi research
