Mark Beyer

Earthmoving and mining equipment supplier Emeco Holdings Ltd, which has been battered by investors after completing one of Western Australia's biggest sharemarket floats, has delivered a strong rise in net profit to beat its prospectus forecasts.

Welshpool-based pharmaceutical manufacturer PharmAust Ltd is seeking to finalise an urgent refinancing after shareholders rejected an $825,000 capital raising and moved to dump the company's current directors.

Record prices for nickel, copper and zinc have underpinned bumper profit reports this month, with global mining giant BHP Billiton Ltd leading the charge with a 28.4 per cent increase in net profit to $US13.4 billion ($A16.7 billion) for the year to June

When CSIRO chief executive, Dr Geoff Garrett, visited Perth recently on the research group’s national industry roadshow, he delivered a very entertaining presentation on exponential change.

Michael Kiernan’s Territory Resources Ltd has been criticised by the Takeovers Panel over comments made during the ongoing takeover battle for his old company, Consolidated Minerals Ltd.

Kwinana engineering and fabrication firm Ausclad Group of Companies Ltd has secured one of its largest contracts on the $2 billion Boddington Gold Mine project, which has provided work opportunities for a wide range of contractors in Western Australia.

Engineering company Clough Ltd has reported a worse than expected after-tax loss of $105.3 million after making provisions of $130.7 million against two problem contracts.

The Takeovers Panel has delivered a highly critical report on Territory Resources Ltd and its chairman Michael Kiernan, declaring he acted unacceptably during the ongoing takeover battle for his old company Consolidated Minerals Ltd.

Automotive and industrial products supplier Coventry Group Ltd has posted a $1.2 million loss for the year to June 2007 after big write-downs in the value of its new IT system and goodwill on its interstate operations.

The failed property developer Westpoint Group owes investors more than $420 million and with two exceptions, investors in most of its projects will receive little if any return, a report by the Australian Securities and Investments Commission has found.

Engine technology developer Orbital Corporation Ltd has reported an increase in net profit after tax to $1.3 million for the year to June 2007, up from $0.5 million in the previous year.

Record prices for nickel, lead and zinc over the past year have underpinned bumper profit reports this week, with BHP Billiton Ltd, Jubilee Mines NL and Independence Group NL all reporting strongly improved results today.

The top echelons of industry policy are going through a big change with one of Premier Alan Carpenter’s most senior advisers, Peter Terlick, recently being installed as chief of staff to industry and enterprise minister Francis Logan.

The appointment of a new board and executive team in June 2006 heralded a revival in the fortunes of Western Metals Ltd, which has been ranked as the best performing Western Australian stock last financial year.

Kimberley Diamond Company Ltd was a consistent poor performer in terms of shareholder returns, and it fell last month to a friendly takeover bid by UK company Gem Diamonds Ltd.

High flying mining stocks have topped our survey of shareholder returns, notwithstanding the recent stockmarket volatility.

Amidst the turmoil that has engulfed global stockmarkets, one group of Western Australian investors took an unusual, almost quixotic stand last week.

The sharp fall in share values over the past fortnight has highlighted for many investors the tangible value of companies that pay regular dividends.

Engineering and construction company Monadelphous Group Ltd was one of the top performers in the total shareholder return survey, outperforming every other mature business in Western Australia.

The spectacular rise in Fortescue Metals Group’s share price since chief executive Andrew Forrest took the reins has made the iron ore developer the top performing Western Australian stock over the past five years.

Paladin Resources Ltd has surprised by selecting a South African engineering group to oversee the $A230 million (US$185 million) development of its Kayelekera uranium project in Malawi, rather than Perth firm GRD Minproc Ltd.

Modular building supplier Nomad Building Solutions Ltd has exceeded prospectus forecasts in its 2006-07 annual results and predicted further strong earnings growth in the current financial year.

Punters who bought into technology investment company, ST Synergy Ltd, during 2006 will be feeling more than a little disappointed after its stock was suspended and its major subsidiary went into administration.

Coventry Group Ltd has engaged Oracle Corporation to help it complete the roll-out of a troubled computing system, which the company said would contribute to a small loss in the 2006-07 financial year.

Fremantle-based Coastal Business Centre has been selected as one of ten partner organisations for the federal government’s planned Australian Industry Productivity Centres.

Two companies established by academics with close links to the University of Western Australia are among the latest recipients of federal government research and development grants.

The past week has seen a flood of commentary and analysis focusing on the instability in global financial markets and trends in interest rates, with comparatively little attention paid to developments in the real economy.

Tax professionals have cautiously welcomed state government plans to rewrite the Stamp Act, but have warned that many companies owning land could be surprised to find themselves caught in the tax net.

Oil and gas producer Santos Ltd and its United States partner Apache Corporation are proceeding with detailed studies of their jointly owned Reindeer gas project, which could provide a major new source of gas for the Western Australian domestic market.

Energy utility Alinta Ltd has delivered a 20 per cent increase in first half profit on the back of a significant rise in revenue, ahead of next week's shareholders' meeting to approve its sale.

Treasurer Eric Ripper has announced major reform proposals for the state tax system that are projected to deliver an extra $80-100 million in revenue, but said the government would adopt offsetting tax cuts so the package was revenue neutral.

Eight years after being incorporated, four years after listing on the stock market, three years after winning its first contract, and one year after delisting, Perth company AnaeCo Ltd is close to commercialising its innovative waste treatment technology.