When a business with XRF's quality falls 28% in SP within a couple of months I think it warrants a look.

The March quarter trading update (pasted below) revealed a 9% drop in revenue but a 5% increase in profit before tax compared with the PCP.

I suppose the other plausible trigger for the slump in SP is concerns over the effects on mining services secondary to pain in China from tariffs.

In any case I see a PE of 22 as undemanding for a business with long term growth potential, quality management and a strong balance sheet. Looking to add to holdings... (Held IRL)