The downturn in mining and construction activity in Western Australia has delivered a mixed bag of results for several contractors today, with the major surprise being a downgrade in MACA's revenue outlook.
Today at AOG: Former APPEA environmental director Miranda Taylor has been appointed as chief executive of the federal government's newly established energy resources growth centre, which will be known as National Energy Resources Australia.
Takeover target Asciano has lifted its first-half profit on the back of strong coal haulage volumes but warns its earnings for the full-year could still be flat.
Iron ore miner Fortescue Metals Group will continue slashing costs after first-half profit dropped 4 per cent to $US319 million ($A442 million), as fellow miner BC Iron reported a half-year loss of $62.9 million amid falling prices.
Power generation company Pacific Energy has won a contract to supply electricity to Doray Minerals' Deflector gold project in the Murchison region for an undisclosed sum.
Gold has risen about one per cent, spurred by a fall in global equities and inflows into bullion funds that helped the precious metal recover ground lost in previous sessions.
Wall Street stocks have slid, hurt by pressure from a renewed drop in oil prices, undercutting momentum that had helped the market rebound from a sluggish start to the year.
Local waste management company Tox Free Solutions has won a new contract for work at BHP Billiton's Olympic Dam mine in South Australia, along with an extension for ongoing work at Chevron's Western Australian assets, for an undisclosed sum.
Apartments developer Finbar Group says softer conditions in the Western Australian property sector have resulted in moderate pre-sales results at its new projects, after lodging a $6.3 million net
Rival bidders for rail and ports giant Asciano are considering making a joint, all-cash $9.05 billion bid in an effort to seal the long-running takeover battle.
Living life in reverse is an amusing fictional concept that involves being born old and growing young, but if you look at some of the forces at work in the economy today you might imagine that everything is running backwards – starting with the puzzle of negative interest rates.
Perth-based GR Engineering Services has delivered a strong result despite the doom and gloom of the resources sector, announcing today a rise in profit and an increased dividend payout.
Home builder Cedar Woods Properties is on track to deliver a record result for a sixth straight year and has upgraded its earnings guidance after doubling first-half profit.
The legal battle between BC Iron and Watpac Civil & Mining has intensified with the mining services company serving a counterclaim to the iron ore miner and its joint venture partner, now seeking about $52.8 million.
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.
BHP Billiton has responded to its mammoth interim loss and the prospect of a prolonged downturn by slashing its dividend and adopting a new management structure that leaves Western Australia without a representative in the company's leadership group.
Gold prices have slipped as much as two per cent as the US dollar strengthened and investor appetite for risk increased, but the metal remained above $US1,200 an ounce after a rally that pushed prices to one-year highs in February.
