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DON Bourke has been appointed as a director and chairman of Orbital Engine Corporation.

He succeeds Mr Kelly who decided to retire as both director and chairman effective from August 21.

Mr Bourke is also currently executive chairman of Australian Technology Group, a company established by the Federal Government in 1993 to help with the commercialisation of start-up information technology and telecommunications companies and biotechnology ventures.

He is also chairman of Olex Holdings Limited and Compudigm International Limited.

Mr Bourke was previously a director of Crown Casino Limited and BIL (Australian Holdings) Ltd as well as a councillor of the National Library of Australia.

For several years Mr Bourke was the finance director of Consolidated Press Holdings.

On financial matters, Orbital announced an after tax profit of $1 million for the second half-year, meaning a loss of just $1.9 million for the 2003-03 financial year.

This is down considerably on the $26.8 million losses recorded in 2000-01 and 2001-02.

The company completed a capital raising in June that generated $2.6 million and a further $3.3 million in July.

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