Shares in Monadelphous Group Limited (ASX: MND) have plunged by more than half this calendar year, as earnings have fallen and the outlook for mining investment appears dim.
The bad news appears to be growing, given the falls in mining services companies over the past three months too. Check out the chart below for Monadelphous, Ausdrill Limited (ASX: ASL), Titan Energy Services Ltd (ASX: TTN), ALS Limited (ASX: ALQ), MACA Limited (ASX: MLD) and WDS Limited (ASX: WDS).
Source: Google Finance
And here's why it going to get worse. Resource investment, including in LNG, oil and gas is rapidly declining as the chart below shows.
Source: Bureau of Resources and Energy Economics (BREE)