Mark Beyer

The slowing economy has hit smaller accounting firms harder than the big players, judging by revenue data released over the past month, with practices in Western Australia affected more than those in other states.

There aren’t many businesses that relish the lack of daylight saving in Perth, but newly formed market research firm Thinkfield says the time difference to the east coast creates big opportunities.

An independent expert’s report has put a minimum valuation on Phoenix Gold shares of 15.6 cents, well above the two competing takeover offers for the Kalgoorlie company.

Rio Tinto has mapped out a positive future for its expanding iron ore business, predicting more efficiency gains in the Pilbara, less competition from other producers and more growth in global demand.

Advertising and branding agency Meerkats has widened its ownership, with co-founders Ronnie Duncan and Mike Edmonds selling part of their shareholding to six current staff.

Perth-based construction, fabrication and maintenance companies AusGroup and Civmec have proved resilient in the face of the resource sector slowdown, with AusGroup today joining its competitor in reporting solid growth over the past year.

Perth-based Wolf Minerals has passed another milestone at its Hemerdon tungsten and tin project in Devon, in southern England, with the plant producing its first tungsten concentrate.

The last day of the profit reporting season delivered a few surprises for Western Australia-based mining services companies, with NRW Holdings incurring a bigger-than-expected loss, VDM Group shrinking at a rapid rate, Swick Mining Services showing some promise, and Resource Development Group staying in the black.

Property developer and construction contractor Diploma Group has incurred a loss for the year to June 30, reflecting a gross loss on its operating activities rather than write-downs.

SPECIAL REPORT: Two years on, the surge in ASX backdoor listings shows little sign of slowing, helping innovative technology businesses in Perth, interstate and overseas to raise capital.

Nedlands-based TFS Corporation has altered the accounting treatment of four managed investment schemes after its auditor proposed changes to align with new guidelines introduced in 2014.

The latest round of annual reports has revealed some highly unusual movements in chief executive remuneration, including at Monadelphous Group and Mineral Resources.

Diversified contractor SRG has completed its $2.3 million acquisition of Perth-based commercial maintenance and repairs firm CCM Group Australia, which it says will add to its capability in Western Australia.

The Town of Port Hedland council voted last night to privatise the regional airport through a long-term leasing deal with AMP Capital and Infrastructure Capital Group, which will run the regional airport for 50 years.

Monadelphous Group has defended its handling of a dispute with Queensland customer Wiggins Island Coal Export Terminal, following allegations its work was defective and that it had improperly obtained confidential information.

EY partner Vince Smith has been appointed liquidator of six funds management companies associated with the late David Jones, following a successful court application by the Australian Securities and Investments Commission.

UGL has shut down its engineering design business in Perth as part of the company’s response to the low volume of work in the resources sector and cost blowouts on some of its big projects.

Diversified miner South32 is looking to cut its operating costs by 7.5 per cent over the next three years, with a particular focus on payments to contractors.

The new owners of Quadrant Energy have spoken to Business News about how the $2.7 billion acquisition came together and their plans for the oil and gas producer.

The Town of Port Hedland is poised to complete Western Australia’s biggest privatisation in 15 years, with a consortium led by AMP Capital set to pay $165 million for a 50-year lease over the town’s airport.

GR Engineering has reported strong growth in revenue and earnings, eclipsing a clutch of engineering and construction contractors to report their annual results today.

The corporate watchdog is considering an update to its disclosure policy for prospectuses, one week after uncertainty over the policy contributed to the collapse of a high-profile backdoor listing deal.

Santos has announced a sweeping strategic review after managing director David Knox agreed to step down from the oil and gas producer following a protracted decline in investor support and an 82 per cent plunge in first-half profit.

Willis is set to become one of the largest insurance brokers in Western Australia after buying CKA Risk Solutions, which was established in Perth 11 years ago.

Mineral Resources has highlighted new growth opportunities in mining services, infrastructure and manufacturing after posting a sharp fall in annual earnings and cutting its dividend payments to shareholders.

Logistics company Qube Holdings has written down the value of its port assets at Utah Point and Dampier by $38.5 million, after reviewing the outlook for the iron ore and oil and gas sectors.

Three fast-growing gold miners have undertaken further expansion moves in Western Australia, with Evolution Mining announcing its intention to make a takeover offer for Phoenix Gold.

Famed 1980s deal maker John Spalvins and Perth investor Brettney Fogarty pushed today for major changes at embattled copper mine Aditya Birla Minerals, putting dozens of questions to directors and the auditor at a four-hour shareholder meeting.

Infrastructure Australia has released its preliminary assessment of the Perth Freight Link, which concludes the project will deliver net economic benefits but also raises questions about its cost.

ASG Group’s share price slumped today after the IT services company reported weaker-than-expected annual results along with bonus payments to its top executives.

SPECIAL REPORT: The privatisation of Fremantle Ports will have a major bearing on the future shape of freight movements across Perth.

Contractors pursuing new infrastructure projects are continuing to diversify across industry sectors and geographies in response to continued weakness in mining-related work.