Reporting Season 2014

Profitable utilities top up WA coffers

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.

Barminco weathering resources slow down

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 costs drive Western Power profit lift

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.

Gindalbie writes down Karara

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.

Toro loss $8m

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

Developers lift earnings

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.

Paladin hit by weak uranium price

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

Digital CC shows promise for bitcoin future

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.

Maiden dividend for Sandfire Resources

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.

Katana achieves stellar year

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 sees red ink in gold

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.

Finbar keeps cashing in on apartments growth

Apartment development specialist Finbar Group has notched up its eighth consecutive year of profit growth, with the results indicative of Perth's growing appetite for high-rise dwellings.

TFS benefits from expansion

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.

Tropicana, nickel price boosts Independence

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.

Pioneer grows profit with public listing

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.

Kresta remains in the red after volatile year

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.

Troy down on asset impairments

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.

Mt Carlton pushes Evolution Mining to $50m profit

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.

Peet reinstates dividend payments

Perth’s largest listed land developer, Peet, has reinstated its dividend payments after recording a solid lift in net profit on the back of improved performance across all of its core divisions.

Diversification pays off for Calibre Group

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

Ausdrill reports $43.9m loss

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.

Perseus in the red

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.

ThinkSmart profit grows on Aus business sale

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.

Austal profit down despite record revenue

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

Profit rise for OTOC

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.

Mirabela faces uncertain future

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.

Metals X lifts by 332%

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.

Silver Lake announces $48m impairment

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

SCEE profit falls in competitive market

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.

GR Engineering raises profit by 89%

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.

Fleetwood net profit down 99%

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