News Articles

Manufacturing 24 Jan 2019

Austal reveals Asic inquiry

Austal disclosed today that the corporate regulator is investigating announcements in late 2015 and mid 2016 that triggered a sharp fall in the ship builder's share price.

Mining 13 Jul 2016

Business takes creative approach to CEO packages

Chief executive salaries in WA are continuing to ratchet down, and companies are seeking more flexibility, a study of nearly 30 new appointments this year has found.

Transport & Logistics 01 Apr 2016

Austal wins new US Navy deal

Local shipbuilder Austal has received an order from the US Navy for construction of an 11th littoral combat ship, with the deal worth up to $US564 million ($A735 million).

Transport & Logistics 23 Feb 2016

Austal doubles dividend as profit sinks

Austal has doubled its interim dividend after growing revenue and boosting its cash flow, despite posting a 41.8 per cent fall in profit for the six months to December.

News 15 Jan 2016

BN30 index makes slow start to year

A recent addition to the Business News offering is keeping track of WA's performance on the markets this year. The opening weeks have not been good.

Transport & Logistics 11 Jan 2016

Austal preps new CEO as Bellamy quits

Austal chief executive Andrew Bellamy is quitting after five years in charge of the Henderson-based shipbuilder.

Deals 22 Dec 2015

Austal wins more US Navy work

Shipbuilder Austal has won a $US51.7 million ($A71.8 million) contract to provide upgrade services to the company's biggest customer, the US Navy.

Mining 21 Dec 2015

Beament takes gold in quality field

SPECIAL REPORT: One of the few positives in a tough year for business was the gold sector, and at the forefront was Northern Star Resources, under the leadership of Bill Beament.

Deals 14 Dec 2015

Austal wins $63m patrol boat job

Austal has won a $63 million contract to build two patrol boats for the Australian Department of Defence, with the terms of the deal signed with National Australia Bank including a buy-back clause.

Transport & Logistics 10 Dec 2015

Austal plunges on US issues

Shares in shipbuilder Austal plummeted 25 per cent today on news that problems at its US operations could shave up to 2 per cent off its profit margin there.

Government 05 Nov 2015

Austal floats naval capability

The Australian Submarine Corporation should be privatised, while Australian workers have the capability to produce defence projects locally, Austal chief executive Andrew Bellamy said today.

Infrastructure 29 Oct 2015

Austal wins $75m US Navy job

Shipbuilder Austal has built on its relationship with the US Navy, winning a $US53.5 million ($A75.3m) contract to procure materials for a new vessel.

Financial Services 08 Sep 2015

Austal chair sells down stake

The founder and non-executive chairman of Henderson-based shipbuilder Austal has sold down a portion of his shareholding in the company for $7.24 million.

26 Aug 2015

US operations boost Austal profit

Shipbuilder Austal grew net profit after tax almost 70 per cent in the past financial year, to $53.1 million, on the back of improved margins.

Transport & Logistics 16 Jun 2015

Austal to build catamaran for Asian operator

Shipbuilder Austal has won a $26 million contract to build a high-speed catamaran crew boat for an unnamed operator based in South-East Asia.

02 Jun 2015

Austal wins $44m contract

Shipbuilder Austal has won a $44.5 million contract to build a 70-metre crew boat for an Azerbaijan-based marine services business.

Transport & Logistics 26 Feb 2015

Austal drives promising result

Shipbuilder Austal has reported a 208 per cent rise in profit to $28.9 million for the six months to December and declared its first dividend since 2011.

27 Aug 2014

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.

25 Aug 2014

Austal wins $100m joint contract

Ship builder Austal has won a joint contract of up to $100 million with General Dynamics for provision of modernisation services to the US Navy's Freedom and Independence class littoral combat ships.

Deals 20 Aug 2014

Austal sells ship for $61.5m

Shipbuilder Austal has sold one of its ships, a 102 metre trimaran stock vessel, to Condor Ferries for $61.5 million.

09 Apr 2014

Austal wins $30m ferry works

Shipbuilder Austal has been awarded a contract to design and construct two high-speed catamaran ferries for a Middle Eastern oil and gas company in a deal valued at $30 million.

11 Mar 2014

Navy deal lifts Austal order book to record high

Austal has been given the nod by the US Navy to start construction on two combat ships, raising the company's order book to a record $3.3 billion.

Special Reports 05 Dec 2013

Investors cut CEOs some slack

FEATURE: It has been a difficult year for many of WA's listed entities, but investors are backing the performance of most of the state's top executives.

03 Dec 2013

Austal to sell Henderson asset for $21 million

Austal has agreed to sell its former satellite service base at Henderson to AME Offshore Solutions for $21 million, with the proceeds being used to reduce debt.

Opinion 30 Oct 2013

AGM votes a lesson in volatility

Company directors must be getting nervous after watching the voting patterns at recent annual meetings.

30 Aug 2013

Austal cashing in on US contracts

Perth-based shipbuilder Austal has more than tripled its full-year profit on the back of its long-term contracts with the US Navy.

Financial Services 18 Jul 2013

Austal upgrades profit guidance

Ship builder and defence contractor Austal has upgraded its after-tax profit guidance for the 2012-2013 financial year to between $35 million and $40 million.

29 Aug 2012

Austal back in black but below expectations

Shipbuilder Austal has reported an $11 million net profit for the year ended June 30, after the company's revenue reached a record $653 million.

10 Jan 2012

Austal wins contract for support vessel

Boat builder Austal has confirmed a contract for a fourth wind farm support vessel for UK company Turbine Transfers for GBP 4 million.

Appointments 03 Mar 2011

On the move

GESB recruits Langoulant, Nance

24 Feb 2011

Austal appoints Bellamy as CEO

Henderson ship builder Austal has named Andrew Bellamy as its new CEO, moving him up the ranks from chief operating officer of the Australian business to the fill the void left by Bob Browning.

News Articles for Andrew Bellamy

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