Australia’s Boom Logistics Posts Higher Revenue, Profits

Australian crane rental company Boom Logistics posted an AU $36.6 million (U.S. $29.2 million) full-year after-tax profit for the previous financial year, an 11 percent year-over-year increase, while revenue rose 38 percent to AU $350 million (about U.S. $279 million).

Core operations maintained strong growth despite adverse weather conditions that caused a lot of customer maintenance deferrals, Boom Logistics CEO Mark Lawrence said.

During the year, Boom Logistics acquired James Equipment, GM Baden, D&D Crane Hire and Moorland Hire. Lawrence said the acquisition of GM Baden will enhance the company’s after-sales service capability, and the Moorland Hire acquisition will provide an enhanced presence in Victoria.

Lawrence said the company expects strong customer demand in 2008.