Modular and transportable buildings manufacturer Nomad Building Solutions posted an overall profit of $13.3 million following the economic downturn negatively impacting its clients' investment decisions and an impairment charge of $6.8 million.
The donga and remote accommodation provider's profit before the impairment charge against good will reached $20.1 million, an 18 per cent fall on last year's net profit of $24.6 million.
Nomad Building Solutions managing director, Alan Thomas said his company's 45 per cent drop in earnings was a "creditable performance" given issues encountered during the year.
However, the company recorded a 24 per cent increase in revenue to $415.3 million.
"The result was a creditable performance given some of the issues encountered during the year," Mr Thomas said in a statement.
Nomad's order book has improved in recent months, including last week's announcement of $51 million of work in the North West and the Kimberely for its Rapley Wilkinson business as well as the Gorgon accomodation village contract worth $46 million secured at the end of July.
The company cut its divided from 9.5 cents last year to 4.5 cents for FY2009.
Nomad shares were lifted 2 cents, or 2.58 per cent to close at 79.5 cents.
