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Boom flags $18m impairment

Crane hire company Boom Logistics has flagged an $18 million impairment in its half-year profit, with a portion of the write-down relating to costs associated with the shutdown of its transport business in the Pilbara.

In a statement today, Boom said it intends to book a non-cash impairment charge of about $12 million against the carrying value of its operating fleet, and a non-cash impairment charge of about $6 million against non-core assets that it has branded for sale during the second half of the year.

About $3 million of the latter impairment relates to non-core transport assets that have been released for sale after Boom closed its loss-making transport business based at Port Hedland's Wedgefield industrial estate, coupled with the outsourcing of its transport business formerly based in Singleton NSW.

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