IMDEX reports 70% leap in full-year profit but trims dividend
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The news: Mining technology company IMDEX has posted a full-year net profit of $55.2 million, 70.3% higher than the $32.4 million reported in FY24, as the company delivered record fourth-quarter revenue.
The numbers: The market consensus estimated for net profit was $54.3 million, according to Visible Alpha.
Full-year revenue came in at $431 million, which is 3% lower than the $445.3 million in FY24, but ahead of the analysts consensus estimate of $426.2 million.
The full-year dividend was 2.5 cents per share, down from 2.8 cents per share last year and below the expected 3.11 cents.
The context: IMDEX managing director and chief executive Paul House said IMDEX delivered "resilient earnings" despite the "challenging exploration market". He said the company remains "cautious about the broader market outlook".
What they said: "There is positive market sentiment in key regions, with rising demand for near-mine and brownfields drilling, however the downward pressures that have dampened exploration activity over the past three years persist, although they are increasingly being counterbalanced by the upward forces driving demand for metals," House said.
The source: ASX
