UPDATE 2.30pm: Donga and caravan manufacturer Fleetwood Corporation has posted a 77 per cent slump in full-year profit to $12.5 million and axed its final dividend, citing weak trading conditions across its markets.
The result came on revenue of $333.8 million, down 13 per cent on the previous year.
Fleetwood said demand for manufactured accommodation from the resources sector - the company's key profit driver in recent years - had fallen significantly in the period.
"The significant drop in commodity prices during the year caused delays and cancellations to resources projects that flowed through to demand for manufactured accommodation," the company said.
"The completion of major projects by Rio Tinto and Woodside reduced demand for workers in the Karratha region causing accommodation providers to experience high vacancy rates."
The company also noted demand for classroom builds and recreational vehicles was also down.
"Education sector demand has been low since the end of the Government Building the Education Revolution program in July 2011," Fleetwood noted.
"In NSW and Victoria this has been made worse by lower public sector expenditure following the change of governments in those States. Queensland and WA have fared better driven by initiatives such as the programs to move year seven students to high schools.
"The transportable and park home markets showed some improvement with government support for initiatives that promote growth in affordable housing."
Fleetwood said it had moved to reduce costs and support revenues in response to softer trading conditions.
"These included closing operations, restructuring businesses, securing agreements and upgrading facilities," Fleetwood said.
The company said trading conditions continued to be weak across its businesses.
Fleetwood had net debt of $32 million at the end of the period.Shares in the company slumped 73 cents, or 17.68 per cent, to close at $3.40.