Mining services stocks came under even more pressure during the September selloff, but GR Engineering Services ’ share price gained ground, increasing from 82¢ at the start of the month to close at 90¢, representing a gain of about 10 per cent. While sustained market volatility in October saw its shares come off slightly, they have held up better than most of its peers.

The company delivered a particularly strong 2013-14 result with earnings before interest, tax, depreciation and amortisation up 56.4 per cent despite only nominal revenue growth. Management declared a final dividend of 4¢ per share, bringing the full-year return to 7¢ per share. Based on the midpoint of GR’s high-low trading range for the past 12 months of about 75¢ this implied a healthy yield of nearly 10 per cent.