Non-cash accounting adjustment In line with Boom’s strategy, the company’s investment focus is on the core business of cranes and travel towers as these assets deliver superior returns.
The implication of this strategy is that future investment in the access and general hire business will be minimal.
Given the declining asset base associated with access and general hire equipment, and in line with the requirements of accounting standards, it is probable that there will be a significant impairment related to the goodwill currently valued at $41.8 million in Boom Sherrin.
The CEO Brenden Mitchell stated “Any non-cash adjustment in respect of the non-core access and general hire business reflects our determination to invest in the right assets to deliver value for our shareholders.
BOL Price at posting:
29.0¢ Sentiment: None Disclosure: Not Held
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