Boart swings to deep FY loss

Group hit by weakness in core markets; $US421m impairment charges, restructuring costs weigh; shares slide 12%.

Boart Longyear (BLY) has swung to a deep full-year loss and declined to offer any guidance for the year ahead as market uncertainty continues to weigh on the mineral exploration company.

Investors punished Boart Longyear in early trade. At the 1015 AEDT official market open, Boart shares were 12.94% lower at 37 cents, against a benchmark index increase of 0.06%. In earlier trade Boart shares touched as low as 35 cents.

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