Reporting Season 2014

Western Australian utilities are boosting the state government's budget bottom line, partially offsetting falling GST and royalty revenue, according to the latest round of annual reports submitted to state parliament.

Mining contractor Barminco has been affected by a weaker resources sector but has cut costs to grow its margin on a weaker revenue base.

Lower operating costs and an efficiency drive have helped Western Power record an improved net profit result, in a year where strong capital investment continued.

Iron ore explorer Gindalbie Metals has detailed a $586 million loss for the financial year, which was previously flagged on the back of a write-down of its 48 per cent stake in the Karara project.

Western Australia's aspiring uranium miner Toro Energy has reported an $8 million loss for the financial year ending June 2014.

Property developers have reported substantial earnings growth during the 12 months to June as low interest rate settings foster a transition from resources to dwelling investment.

Perth-based Paladin Energy has been hit by the weak uranium price, reporting a $338 million net loss for the full year.

Bitcoin trader Digital CC has claimed a profitable entry into the computer-generated currency sector, highlighting a $630,146 profit for three and a half months of business, despite the vehicle through which it conducted a backdoor listing recording an $11.8 million loss for the financial year.

Copper and gold miner Sandfire Resources has recorded a slightly less profitable financial year for 2013-14 but declared a maiden dividend of 10 cents per share.

Sharp timing on commodities stocks has helped drive a strong result for investment manager Katana Capital, with a 187 per cent increase in revenue to $8.3 million, from $2.8 million the previous financial year.

Silver Lake Resources continues to be buffeted by a low gold price, with operating losses at its Murchison operation and impairments dragging it to a $170 million loss.

Nedlands-based TFS Corporation has achieved a record full-year profit of $82.5 million, up 48 per cent on the back of increased plantation asset ownership.

Gold and nickel producer Independence Group has raised its full-year profit by 60.7 per cent to $46.6 million on the back of the production commencement at Tropicana and an improved nickel price in the second half of the year.

Perth-based financial services group Pioneer Credit has delivered full-year profit of $4.6 million in its first year as a publicly-listed company on the back of strong gains in customer payments.

Window coverings manufacturer and retailer Kresta Holdings has reported a $1.4 million loss for the year ended June 30, down from $1.5 million net profit last year.

Gold miner Troy Resources has flagged a net loss of $59.1 million on the back of a $61.2 million asset impairment of its Karouni gold project in Guyana.

Gold miner Evolution Mining has reported a $50 million net profit after tax largely due to starting commercial production at its Mt Carlton mine and significant cost reductions in response to a lower gold price.

Engineering firm Calibre Group has reported a net profit after tax of $24.4 million for the year ended June 30 2014.

Mining services company Ausdrill has suffered a 148.5 per cent fall in full-year profit to make a loss of $43.9 million, on the back of $77.9 million in write-downs and impairment charges as a result of the diminished outlook for mining services.

Movements in the US dollar and Ghanaian Cedi relative to the Australian dollar have combined with lower gold production and higher costs to drive Perseus Mining into losing territory.

Financing group ThinkSmart has reported a six-month net profit of $11.3 million, up 391 per cent from its posted $2.3 million in full-year profit result in February.

Shipbuilder Austal reported an 11 per cent fall in full-year profit to $31.9 million, despite record revenue and a reduction in debt.

Perth-based contractor OTOC says its diversification strategy and growth of its business divisions helped it raise full-year profit by 5 per cent to $5.46 million.

Mineral explorer and developer Mirabela Nickel still faces uncertainty as a going concern after coming out of administration in June, on the back of lower than expected nickel prices.

West Perth-based miner Metals X has reported a 332 per cent full-year profit increase to $37.4 million, alongside a 247 per cent surge in revenue to $238.6 million.

Shares in gold miner Silver Lake Resources have dropped on the back of the company announcing a $48 million non-cash impairment.

Southern Cross Electrical Engineering has reported a $9.6 million slump in full-year profit to $7.7 million on the back of a 21 per cent fall in revenue to $218.2 million.

Belmont-based contractor GR Engineering Services lifted its full-year profit by 89.3 per cent to $14.2 million, despite a drop in revenue of 0.4 per cent to $114.2 million.

Caravan and accommodation manufacturer Fleetwood Corporation has revealed a 99 per cent fall in net profit to $76,000.

Perth gold company Resolute Mining says the combination of lower gold prices and higher costs were behind a 60 per cent drop in full-year profit, to $33 million..

Drilling services provider Swick Mining Services has released its earnings and dividend for the 12 months to June 30, with net profit after tax down 83 per cent year-on-year to $1.5 million.

Welshpool-based contractor MACA has raised its full-year net profit by 12 per cent to $55.4 million despite weather setbacks during the year, and increased revenue by 25.2 per cent to $595.4 million.