General News

Westralia profit rise

STRONG growth in aeronautical and trading revenue has resulted in a $3.8 million revenue increase for Westralia Airports Corporation in 1999-2000. According to the company’s annual report, revenue rose six per cent on last year, to $69.15 million. The growth helped push the company’s earnings before interest, tax, depreciation, amortisation and abnormals, 8 per cent higher to $45 million.

Airport extension

CONSTRUCTION of a new $3 million passenger terminal at Geraldton Airport will go ahead with a $250,000 State Government grant through the Regional Airports Development Scheme. The new terminal, to be called Greenough Terminal, will allow bigger aircraft and more airlines to operate from Geraldton. It will be about three times the size of the existing Brearly Terminal, which handles more than 80,000 passengers a year.

Law firms merge

AFTER two years of courtship, law firms Edwards Thompson and Minter Ellison have formalised their corporate marriage. The two firms will merge from January 1, with Edwards Thompson setting up house in Minter’s Central Park residence. Minter Ellison CEO Sean Larkan said the merger would enhance his firm’s commercial, corporate and resources capabilities.

ASIC reports good year

THE Australian Securities and Investments Commission’s WA office has had a successful year in terms of enforcement and consumer protection action, according to the 1999-2000 annual report tabled in Federal Parliament this week. Listed in the report was the 10-year goal sentence handed out to Darcy Papas for stealing and fraud. Paul Wilhelm was sentenced for five years for fraud and four finance brokers were banned from practising. WA regional commissioner Jamie Ogilvie said ASIC also banned eight directors who were in control of companies that went into liquidation, leaving $7.9 million in unpaid creditors.

Mortgage Choice success

RUSSELL Crook’s Mortgage Choice branch was named the State winner at the recent 2000 Franchisee and Franchise System of the Year Awards, staged by the Franchising Council of Australia. Pizza Haven won the Best Home Grown Franchise System award. Its joint managing director Evan Christou, who has been involved in the fast food industry for the past 16 years, also won the Most Outstanding Contribution to Franchising in Australia award. WA success stories Snap Franchising and Dome Coffees Australia won the Franchise System of the Year (entry capital over $200,000) award and the Franchise System Export award respectively.

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