Nomad reports $61m FY10 loss
Nomad Building Solutions has announced a $61 million loss for the 2010 financial year based on an $8 million operating loss and large writedowns of goodwill and fixed assets. On June 1 Nomad advised the market that it expected to report a net loss after tax of about $6 million for this financial year. In a statement on Tuesday, Nomad said it now expected to write down some $51 million of the carrying value of goodwill assets.
Alinta to take $465m charge for FY10
Alinta Energy has announced it expects a $465 million write-down in the value of its assets when it finalises its latest accounts, with most of the loss attributable to WA. The writedown is due to Alinta being squeezed by higher gas costs in Western Australia and lower than previously forecast electricity prices in Queensland and WA. Of the total writedown, $350 million relates to Alinta's retail unit in WA.
Western Power rejects Toodyay report
Western Australia's power transmission company has rejected a safety watchdog's finding that one of its old wooden power poles fell and sparked the Toodyay bushfire. In a damning report targeting Western Power, EnergySafety WA found that electricity caused the fire on December 29 last year after the 34-year-old pole fell down.
WA's unemployment rate up to 4.4%
Western Australia's unemployment rate rose 0.4 per cent last month to 4.4 per cent, following the national trend. The national unemployment rate was a seasonally adjusted 5.3 per cent in July, compared with an unrevised 5.1 per cent in June, according to Australian Bureau of Statistics figures.
Brookfield gets Fiona Stanley contract
The state government has awarded the stage two contract to build the $2 billion Fiona Stanley Hospital in Murdoch to Brookfield Multiplex. Health Minister Kim Hames said Brookfield Multiplex had already completed work on the design and early construction of the hospital on time and on budget, as part of stage one of the two-stage managing contractor process.