Citi sees H2 revenue growth for Australia's IMDEX

Imdex

14/03/2024 20:52

** Analysts at Citi see mid-single digit average revenue per
user (ARPU) growth in H2 2024 for mining technology firm IMDEX
 IMD.AX  
    ** Brokerage says an uplift in drilling metrics in February
supports progressive improvement in exploration for Australia's
major miners 
    ** "For IMD, 2H represents a period of easier comps which
should translate to organic volume growth" - Citi
    ** Adds ARPU growth can be driven by cross-selling
opportunities and volume growth for IMD
    ** Flags that while major miners should be key drivers for
near-term volume growth, junior miners can be a swing factor
    ** Stock up 13.5% YTD, as of last close



 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))