Australia's Imdex hits highest in nearly 3 weeks on first-half profit jump

Imdex

07/02/2022 24:30

** Shares of mining services provider Imdex  IMD.AX  rise as
much as 6.4% to A$3.150, their highest since Jan. 20 
    ** Co's net profit after tax for the first half of FY22 grew
80.8% to A$24.4 mln ($17.27 mln), beating Jefferies estimate by
2% to 4%; revenue rose 34.9% to A$167.8 mln  urn:newsml:reuters.com:*:nASX8m7cSq
    ** Key swing factor for the 2H22 earnings will be the level 
of cost of investment, with several compelling investment
opportunities and an indication that some inflationary pressures
may become evident in the second half - Jefferies    
    ** IMD declares an interim dividend of 1.5 Australian cents
per share  
    ** Stock posts biggest intraday percentage gain since Jan.
31 
    ** Stock up marginally this year, as of last close 
    
($1 = 1.4128 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))