qld floods, page-2

Not looking good. Maybe a good day to top up. The wet weather won't last forever. Should have sold at 47 cents.

BOOM LOGISTICS LIMITED - WEATHER IMPACTS UPDATE
Brisbane
Due to flooding in Queensland, Boom Logistics Limited (?Boom?) evacuated the
following sites in Brisbane yesterday to ensure the safety of its employees allowing
them to travel home safely and to secure their family homes:
Boom Cranes Brisbane ? Pinkenba site; and
Boom Sherrin Brisbane ? Eagle Farm site.
These sites will remain closed today.
Due to the location of Boom?s premises, and based on current weather guidance, it is
not anticipated that equipment located on Boom?s premises will be impacted, but
Management will continue to monitor this position closely.
Bowen Basin
Whilst the mines that Boom supports in the Bowen Basin continue to operate, the
limitations caused by the weather, including road permit restrictions for our vehicles
and those of our customers, mean that our operations are running at 50% of normal
capacity.
Based on interaction with our customers, we expect activity in the Bowen Basin to
remain subdued throughout January.
Toowoomba
A Boom Sherrin depot is located in Toowoomba and whilst this location is secure, the
depot is closed while our people support the recovery effort in the region.
December weather impacts
Management estimates that the severe Queensland weather in December 2010 has
impacted the December result by approximately $1.2 million EBIT across Brisbane
and the Bowen Basin in the crane business and the Boom Sherrin operations
throughout Queensland.
Whilst the weather was also poor in New South Wales, the financial impacts were not
significant due to the location of Boom?s operations.
Weather impacts outlook
Given that the weather conditions in Queensland are forecast to continue, Boom is
unable to provide an estimate of the likely financial impacts of these current
conditions at this time.