Imdex posts record FY26 earnings, shares fall on outlook
Australian mining technology firm Imdex reported a record fiscal 2026 profit but warned of softer demand, sending shares down 2.6% in early trade.
Australian mining technology company Imdex Ltd. reported a record fiscal 2026 net profit on Thursday, though its outlook disappointed investors, sending shares down 2.6% in early trade.
Imdex, which provides drilling and analysis solutions to the global mining industry, said net profit rose to a record A$85.2 million ($56.5 million) for the year ended June 30, up 12% from A$76.1 million in FY25. Revenue increased 8% to A$422.7 million, driven by strong demand in North America and Australia.
The company attributed its earnings growth to higher mineral exploration activity and increased adoption of its proprietary technologies, including its IMDEXHUB-IQ platform. However, management warned that softer commodity prices and reduced exploration budgets from mining firms could pressure future demand.
"While we are pleased with our record financial performance, the current market environment suggests a moderation in growth,
Sophie covers currency markets and central bank policy across Europe, with a focus on how rate decisions ripple through FX pairs. She has been tracking the ECB's policy path since the start of the current easing cycle.
More from Sophie Laurent →