Business Description:
Imdex Limited (IMD) is an industrial company whose core business is the supply of drilling fluids and chemicals and down hole instrumentation in Australia and internationally to the oil & gas, mining, water well, horizontal directional drilling and civil industries. IMD operates in Africa, Asia Pacific, Europe, North America and South America.

Strategy Analysis:
IMD growth strategy includes growing its global business, expanding into new markets (particularly oil and gas), maintaining product leadership through investment in research and development, increasing rental based revenue and achieving operational efficiencies. The company will continue to invest in product development and research to ensure that it remains capable of satisfying its customers' demands for the premium quality drilling fluids and state of the art instrumentation that they need to operate in remote regions and in conditions that are becoming increasingly difficult. Imdex reported NPAT of $29m for the year ended 30 June 2011. Revenue from ordinary activities were $205.16m, up 53% from last year. Diluted EPS was 14.25 cents compared to (11.05) cents last year. Net operating cash flow was $35.89m compared to $5.7m last year. The final dividend declared was 2.75 cents, taking the full year dividend to 4.5 cents compared with nil cents last year.