Looks like it followed the others down ... mining services sure...

Looks like it followed the others down ... mining services sure aren`t flavour of the month

http://www.fool.com.au/2013/04/12/asx-mining-services-stocks-hammered/?utm_source=twitterfeed&utm_medium=twitter

These three stocks were the worst performers in the top 200, falling more than 6%.

No real surprise that they are all mining services companies, after one of their compatriots, Calibre Group issued a massive profit warning, with 2013 financial year net profit expected to be almost 50% lower. Miners are focusing on cutting costs and capital expenditure, delaying projects and selling off non-core assets. Dependent as they are on the miners, mining services companies have seen their share prices hammered in the past year, and several will be lucky to survive.

Decmil Group (ASX: DCG) lost 8.9% to close at $2.16. Decmil operates in two segments, construction, which includes design, engineering and construction services, and accommodation villages, which it builds, owns and manages. Despite exposure to the oil and gas sector, with its primary accommodation village, Calliope, catering to the LNG industry in Gladstone, Queensland. Over the past year, Decmil shares have shed 20% of their value.

NRW Holdings (ASX: NWH) fell 8.3% to close at $1.39, to add to shareholders’ woes. Over the past year it has fallen close to 60%, with several substantial shareholders jumping ship, despite reporting a 7% rise in net profit for the six months to December 2012. Shareholders will be hoping that the company can diversify its business away from mining into civil

Imdex Limited (ASX: IMD) close down 6.4% lower, ending at $1.24. Imdex supplies drilling products and services to the mining sector, as well as water, oil and gas drilling industries. Unfortunately for the company, 75% of its business comes from the minerals side. That’s reflected in revenue for the six months to December falling 3%, but minerals revenue dropping a whopping 18%. Imdex will be pinning its hopes on expansion of its oil and gas business.