BUZZ-Australia's Imdex rises to near 3-year high; Citi says HY results 'resilient'

Reuters
02-12
BUZZ-Australia's Imdex rises to near 3-year high; Citi says HY results 'resilient'

** Shares of mining technology co Imdex IMD.AX rise as much as 7.9% to A$2.860, their highest since March 25, 2022

** Co posts HY normalised EBITDA A$64 million ($40.27 million), 1% ahead of consensus estimates

** Declares interim dividend of 1.5 Australian cents per share

** "We expect shares to trend up as the result has once again illustrated IMD's resilience despite decline of global exploration drilling activity levels in CY24," Citi says

** Trading volumes 1.5 times the 30-day average of 608,873 shares

** Stock up 22.8% YTD, including day's moves

($1 = 1.5893 Australian dollars)

(Reporting by Himanshi Akhand in Bengaluru)

((Himanshi.Akhand@thomsonreuters.com;))

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