Austin Engineering shares were sold off on Wednesday following the company's downward revision of two financial guidance metrics for the current fiscal year.
Austin Engineering has announced David Singleton’s successor, appointing non-executive director Sybrandt Van Dyk as managing director and chief executive from July 1 2025.
Austin Engineering has 12 months to find a new chief after David Singleton gave notice of his retirement following a three-year stint at the helm, which has earned him almost $20 million.
Austin Engineering has dropped its net profit guidance by up to $7 million for the 2023 financial year due to purchase order delays with a major customer.
Perth company Austal has accepted it breached its continuous disclosure obligations and agreed to pay a financial penalty as part of a settlement with the Australian Securities and Investments Commission.
Austin Engineering has delivered its 1,000th truck body to Rio Tinto's iron ore division, while Forrestfield-based Schlam won a $110 million contract from BHP.
Austal has lowered its full-year earnings and revenue targets, due to delays in construction as well as expected costs associated with a recent claim against the Henderson-based shipbuilder.
Austal and former chief executive David Singleton are facing legal action over an alleged failure to properly disclose a change in the company's earnings guidance in 2016.
Austal will acquire Queensland-based BSE Maritime Solutions Group for $28 million in a bid to boost the shipbuilder's share of maintenance and support work.
Austal has strongly denied allegations of unethical behaviour after reports emerged the Australian Border Force had funnelled $39 million to the ASX-listed shipbuilder.
Digital technology's growing influence on defence has prompted Henderson-based shipbuilder Austal to appoint vice-president Andrew Malcolm to the newly-created role of chief digital officer.
Shipbuilder Austal has appointed chief operating officer Patrick Gregg to lead the company next year, replacing current chief executive David Singleton, whose contract is due to end in December.
Henderson-based shipbuilder Austal has raised its full-year revenue guidance by $100 million, saying the coronavirus pandemic has had minimal impact on its operations over the past two months.
Austal has won a $324 million contract to design and construct six evolved Cape-class patrol boats for the Royal Australian Navy, while also announcing it was not successful in the bid for a contract with the US Navy.
Austal's Alabama shipyard has propelled the Henderson-headquartered shipbuilder to a record half-year earnings performance and a solid lift in net profit.
Henderson-based shipbuilder Austal will construct its largest ferry to date after finalising a $136 million follow-up order with Danish ferry operator Molslinjen.
Another flurry of substantial share transactions from directors of Perth-based ASX-listed companies have occurred recently following the release of annual results, with David Singleton, Elizabeth Gaines and Rodney Leonard among those involved in the largest deals.
Henderson-based shipbuilder Austal has finalised a $126 million contract to build two vessels for the government of Trinidad & Tobago by the second half of 2020.
Austal has secured a $US23 million ($34 million) contract with the US Department of Defence, and addressed media reports of a possible Philippines expansion.
Seven West Media has been booted from the S&P/ASX 200 Index, while local shipbuilder Austal will join the benchmark, following the quarterly rebalancing of the Australian share market indices.
Austal chief executive David Singleton believes the shipbuilder needs to gain a critical mass of female workers to permanently make an impact on gender equality in the industry.
Shipbuilder Austal has turned two major challenges – a cyber attack and the loss of a big naval contract – into positives, chief executive David Singleton told a Business News Success & Leadership breakfast today.
