Programmed Maintenance Services has flagged a $75 million impairment resulting from poor performance in its marine services division, but expects to lift earnings to over $100 million by FY17 as it benefits from growth in other sectors of the economy.
Geraldton company Bhagwan Marine is set to expand its presence in northern Australia after striking an agreement to purchase a fleet of vessels for $25 million; a third of the price the previous owner paid just three years ago.
