Fraser Beattie

GR Engineering Services wrapped up the 2016 financial year with record revenue and increased profit, but says competition for design and construction opportunities remains high.

Woolworths has announced its exit from the home improvement sector, with all of its Masters stores to close in early December and the properties to be redeveloped by a private consortium, while its Home Timber & Hardware business is to be sold to Metcash.

Perth-based Sheffield Resources has tapped investors for a $17.1 million capital raising to fund completion of a bankable feasibility study on its $271 million Thunderbird mineral sands project near Derby.

Osborne Park-based MG Group has won a contract to develop the state government’s $7 million Railway Square public open space project in Midland.

RCR Tomlinson says it has won $170 million worth of contracts for work across Australia, including at BHP Billiton’s operations in the Pilbara.

Rox Resources’ joint venture partner Teck Australia has voiced concern today with the company’s proposed sale of its stake in the Reward zinc-lead project to Marindi Metals, after competing bidder IM Medical said last week an exclusivity agreement had been breached.

Ventnor Resources has sold its stake in the Thaduna/Green Dragon copper project to joint venture partner Sandfire Resources.

Perth-based gold miner Troy Resources says it expects to record an $87 million impairment in its full-year accounts, with the majority of the charge attributed to the sale of its Casposo project in Argentina.

Local aquaculture firm Seafarms Group has announced its second capital raising in the past two months, this time tapping investors for $11 million to fund ongoing work at its $1.45 billion Sea Dragon prawn project.

Perth-based contractor MACA is focusing on securing more work in the gold sector after reporting a slump in full-year profit.

Shares in engineering firm Monadelphous Group fell sharply today after it posted a 27 per cent slide in profit on the back of lower activity in the resources and energy sectors and predicted contracting margins would remain under pressure.

Local contractor Macmahon Holdings has returned to the black with a net profit of $1.7 million after a tough year in the mining sector.

Perth-based manufacturer Matrix Composites & Engineering has had two previously-cancelled contracts restored, but they will be delayed by three years.

CIMIC Group has launched legal action in the United States against Chevron over cost blowouts on jetty and marine structures it built at the Gorgon LNG project on Barrow Island.

Former Calibre Group boss Rodney Baxter has been named chairman of mineral sands miner MZI Resources, following Malcolm Randall’s retirement from the role today.

Petrol prices reached 14-year low averages in the past year but gross retail margins hit fresh highs, the competition watchdog says.

Gold miner Northern Star Resources has increased its dividend payout after confirming a 65 per cent jump in full-year profit, on the back of higher gold prices and a reduction in costs.

Financial services provider Pioneer Credit has boasted a record year of growth, with increases in revenue, net profit and customer numbers.

Ramelius Resources has enjoyed a fruitful year, with profit up 71 per cent on the back of increased production and lower costs.

Perth-based engineering firm Civmec has blamed low oil prices and a weaker Australian dollar for a near-halving of its full-year net profit.

Blackham Resources has completed a $25 million capital raising ahead of achieving first production at its Matilda gold project near Wiluna.

Energy giant Woodside Petroleum's first-half profit has slumped 50 per cent on the back of lower oil prices.

Automotive Holdings Group has announced plans to raise up to $110 million from investors and purchase two car yards on the east coast, on the same day it revealed an increase in full-year profit.

Diversified business Mineral Resources has increased the size of its dividend payout on the back of an improved underlying profit and despite a statutory net loss.

A recently established joint venture comprising local shipbuilder Austal has won a $10 million contract to build a ferry for a Chinese operator.

The state government has appointed Richard Sellers to the role of director general of the Department of Transport, succeeding Reece Waldock who retired last month.

Shares in local contractor NRW Holdings soared on news the company had returned to the black with $21.5 million in profit for the 2016 financial year.

Local explorer Geopacific Resources has kicked off a $15 million capital raising to fund the earn-in and development of the Woodlark gold project in Papua New Guinea.

Graphite hopeful Kibaran Resources has received firm commitments for a $10.9 million capital raising to fund development work at its Epanko project in Tanzania.

An $86 million insurance settlement accounted for almost the entirety of Perth-based iron ore miner Mount Gibson Iron’s profit result for the 2016 financial year, however it was a substantial improvement on last year’s $911.4 million loss.

Junior miner Kidman Resources has tapped investors for $21 million to fund exploration work at its gold and lithium deposits in the Goldfields.

Perth-based Rox Resources accepted a revised offer from Marindi Metals for its stake in the Reward zinc-lead project in the Northern Territory, with the new cash-and-scrip deal worth $21 million.