Australia's Imdex faces worst day in more than 3 years on weak earnings

Imdex

28/08/2023 05:39

** Shares of Imdex  IMD.AX  slump as much as 17.2% to
A$1.49, on track for their worst day since March 16, 2020, if
current losses hold
    ** IMD hits lowest level since Jan. 28, 2021
    ** Mining services provider posts nearly 22% drop in FY23
net profit attributable to A$35 mln ($22.50 mln), revenue jumps
20% to A$411.4 mln
    ** Declares final dividend of 2.1 Australian cents per share
    ** Analysts at Citi more cautious on margin improvement from
2H FY23 levels
    ** Stock down 17.3% this year, as of last close 

($1 = 1.5557 Australian dollars)

 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))