Boom Logistics, a major supplier of cranes to mining companies, is warning shareholders of a big dip in profit during the second half of the financial year.
Boom says it expects trading profitability for the final six months of the fiscal year will be substantially lower than the first half due to a weaker-than-expected performance by some of its business units in March and April.
The company said that while it did not have any direct exposure to troubled iron ore miners, activity in the Western Australia market as a whole had declined substantially.
Trading in Queensland had also been volatile, while the company's Boom Sherrin travel tower business had been impacted by project delays.
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