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Boom tips improved results for FY09 first half

Boom said media commentary concerning capital equipment companies had generally created negative sentiment towards the sector, and hence issued a statement today foreshadowing improved results in the face of tough market conditions.The company said its auditors, KPMG, were in the process of reviewing its half-year financial statements.Boom said the result came despite a lower than budgeted crane sales outcome through its James Equipment business. These expected results come after Boom announced in August the refinancing of a $175 million, three-year credit facility and a $32 million working capital and general transactional banking facility.The company said it also improved the utilisation levels of its wet hire (with an operator) crane fleet over the last six months.

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