The CEO's report in November clearly stated IMD is steadily regaining strength in revenue after a drop in sales in Q109 and Q209. As drilling around the country increases, sales of drilling fluids/paste also rise. Production of these consumerables is easly increased should demand require it. Last financial year IMD consolidated its operations and costs have been reduced. Apart from continuing R&D expendature, there are no new items/issues require payment. Rentals of their 'down-hole' instruments also appeared bouyant. So with no disclosure re an unexpected change to revenue or profits, i expect/hope the interim will deliver a result close to what IMD management indicated in November. That alone should see SP strengthen. Today's strong buying shows mkt feels recent sell-off was overdone. I wonder if any HC readers bought/topped-up in the mid-50's? I wish i had.
IMD Price at posting:
60.0¢ Sentiment: Hold Disclosure: Held
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