After the market closed on Monday afternoon, the management of XRF Scientific confirmed the company was on track to deliver a much improved performance in 2010-11. This follows a strong first-half performance in which the mining services company achieved revenue growth of more than 30 per cent and a near sixfold increase in net profit.

The provider of mining consumables and services only has a market capitalisation of about $20 million, but its performance has been relatively consistent since listing on the ASX in October 2006. XRF has remained profitable, however a less than impressive performance in 2009-10 placed pressure on its share price after it peaked at an all-time high of 23¢ in October 2009.