Boart swings to H1 loss
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Start your free 15 day trial now' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
Mining services group Boart Longyear (BLY) will undergo a debt restructure after swinging to a heavy interim loss on $315.4 million in impairments and restructuring costs.
It swung to a net loss of $329.3 million, from $97.7 million in the previous year, after writing off $298.2 million in goodwill and intangible assets, and booking $17.2 million in restructuring costs. The bulk of its impairments were taken across its drilling services operations.
Underlying net profit came in at a loss of $60 million, when consensus forecasts were for a $6.1 million profit.
Revenues fell 34.6% to $718.8 million in the period, from $1.09 billion.
Boart set its earnings before interest, tax, depreciation and amortisation (EBITDA) guidance for the full year at the lower end of $116-159 million, a big reduction from the $199-271 million that was forecast back in May.
It will not pay an interim dividend, after paying 6.4 cents last year.