Edited announcement

Perth-based mortgage originator, Homeloans has posted a record statutory net profit after tax of $7.2m for the year ended 30 June 2009, turning round a statutory net loss of $12.5 million last year amid lower lending volumes.

Mineral sands miner Iluka has received a boost in its share value today after it reached a settlement with engineering outfit Downer EDI and secured an $8.6 million insurance payout from last year's Varanus Island gas outage.

Perth company Liquified Natural Gas has appointed CB&I as project management consultant for its planned three million tonne per annum LNG project at Fisherman's Landing in Queensland.

Engineering services provider RCR Tomlinson has posted a profit of $13.95 million for the year to June 30, falling 22 per cent on last year's $17.9 million despite its sixth consecutive year of record sales.

Construction contractor John Holland Group has blasted its way into WA's booming oil and gas sector with a $160 million contract to build Apache Energy's Devil Creek gas plant in the Pilbara, snaring work originally to be undertaken by Clough.

Engineering and infrastructure services outfit Downer EDI has expanded its mechanical, construction and maintenance business with the acquisition of Kwinana-based Western Construction.

Gold miner Resolute Mining Group has turned last year's $56 million loss into an after tax profit of $27.4 million in FY2009, including an unrealised treasury gain of $1.1 million, on the back of increased revenues, production and gold cash costs.

Perth-based project implementation, engineering and advisory group, Emerson Stewart is set to merge with national risk management company, Greencap.

Heavy equipment sales and rental company, Emeco Holdings has posted a net profit after tax of $13.3 million for the year to June 30, a fall of 14.5 per cent, which included significant one-off impairment and restructuring charges.

Cash Converters has posted a record profit of $16.2 million for the year to June 30, a gain of 6.5 per cent, on the back of healthy revenue growth driven by increased personal loans, financial services commission and corporate store revenue.

Uranium exploration company, Extract Resources has launched a $91 million capital raising via a non-renounceable rights issue and private placement to institutional investors to accelerate exploration activities at its Rossing South project in Namibia.

Automobile components and building materials manufacturer, Schaffer Corporation has posted a profit of $10.5 million for the year to June 30, down 4 per cent on last year's results against a 13 per cent fall in group revenue.

Dramatic drops in key commodity prices, and the effect of the economic downturn, have impacted heavily upon the bottom line of exploration and mining outift, Kagara.

Reed Resources has raised $6.4 million and will raise a further $4.5 million in a share purchase plan to step up exploration and development activities on three separate projects.

The West Australian Meat Marketing Cooperative's (WAMMCO) profits fell dramatically to $1.3 million for the year to June 30 depsite a record turnover, eclipsing the $100 million mark for the first time.

Lithium producer Galaxy Resources has secured a financing agreement with a Chinese private investment company worth up to $156 million enabling the development of two key projects.

Mining, sampling and laboratory equipment producer, Essa is making further improvements in efficiency and implementing cost reductions in response to posting a net loss of $800,000.

For companies operating in the mining and metals sector, costs, consolidation and capital have been identified as the greatest risks, an annual report has found.

Perth property developer Cedar Woods has posted a $9.3 million profit, down 55 per cent from last year's $20.6 million, as a result of reduced sales of premium product, the impact of option expiries and impairment adjustments.

An increasing number of Australian organisations are offering paid maternity leave according to research released yesterday by by the Equal Opportunity for Women in the Workplace Agency (EOWA) and Alcoa of Australia.

Gold producer Norton Gold Fields has achieved earnings before interest, tax, depreciation and amortisation (EBITDA) of $36.6 million for the year to June 30, an increase of $11 million on the previous year, driven by higher gold prices and and production.

Financial services research firm, Canstar Cannex has awarded Westpac its second annual Best Value National award for Small Business Banking for demonstrating a commitment to backing business in a particularly challenging year.

Following analysis of the state government's financial strategy, international ratings agency Moody's has confirmed Western Australia's Triple-A credit rating, ranking the state at the lowest possible level of risk.

Construction services outfit Global Construction Services has increased profits by more than 10 per cent for the year to June 30, climbing above $10 million despite a softening construction market especially in the residential segment.

Nedlands-based Lions Eye Institute founding director, Professor Ian Constable, has been awarded a gold medal by the Australian Institute of Company Directors for his outstanding achievements in the promotion of corporate governance in community-based orga

Australia's economic resilience in the face the global downturn has resulted in the nation being ranked in the world's top five safest countries in which to invest, a recent survey assessing economic, commercial, external and political risk has found.

The CBD has welcomed the latest retail addition to the Hay Street Mall with the opening of the $400 million enex100, which is also part of a broader mixed-use asset which incorporates a 24-level office tower housing over 2,000 people.

A recent survey of land sales has recorded the most lots sold in one week since May 2008.

Santos's half year profits have fallen by 66 per cent in the year ending June 30 due to lower international crude oil, condensate and LPG prices.

Engineering and construction company Clough has posted a rise in revenue and profit from continuing operations, which it said puts the group in a position to pay a higher dividend.

Small business is increasingly looking to online technologies and applications to improve business efficiency and effectiveness as more business owners look for a competitive edge in challenging economic conditions, a Sensis 2009 e-Business Report release

Following the Varanus Island explosion last year and today's massive Gorgon gas deal announced with China, the state government has introduced legislation to avert future gas shortages and secure WA's future gas supply.