Boom Logistics, one of Australia’s largest aerial and crane rental players, last week said it expected an after-tax profit for the half year ended Dec. 31 of AU$13.7 million (about U.S. $9.3 million), an increase of almost 4 percent from the previous period. The company’s stock price jumped 27 percent on the news.

The company attributed the gain to increased operational efficiencies, despite projected lower sales. Boom Logistics said market analyst estimates of a full-year profit between AU $22 million and AU$29 million is still expected.

The Melbourne, Australia-based company is scheduled to release its half-year financial statements Feb. 23.