Dan Wilkie

Transport group CTI Logistics says expansion to its warehousing and distributing division and new fleet management contracts have resulted in an increase in interim profit to $3.6 million.

Shares in Diploma Group have plunged after the construction and development company lodged a $644,000 loss for the half year ended December 31.

Rail movement between Perth and the eastern states will be shut down until Thursday at the earliest, with 10 sections of the line around 400 kilometres east of Kalgoorlie-Boulder underwater due to heavy rains.

The fallout from troubled office development Raine Square continues, after receivers seized control of a nine storey office tower on St Georges Terrace and the New Esplanade Hotel.

Consulting, construction and contracting company VDM Group says its outlook is dependent on winning new major work, after recording a disappointing interim loss of $16.4 million, down 415 per cent on the previous half-year.

Ausdrill has announced a record $36.3 million interim profit on the back of its Brandrill acquisition from December 2009 and increased exploration levels in the resources sector.

Henderson-based shipbuilder Austal has turned in an interim net profit of $14.1 million, down 9 per cent on the previous half-year despite a 15 per cent rise in revenue.

Diversified junior explorer Reed Resources has announced a discounted $40 million capital raising to fund the purchase of the recently acquired Meekatharra gold project.

National development giants Lend Lease, Australand and Mirvac have been shortlisted by the state government to develop five sites in Karratha's city centre and to develop a 160-hectare, 2,500 dwelling estate at Mulataga.

The state government has claimed it will save taxpayers $11 million a year through office consolidation, but refurbishment costs for the relocated departments' new homes are expected to reach more than $85.9 million.

Civil engineering and construction company Decmil Group has reported a $14.2 million interim net profit, an increase of 58 per cent on the prior half year.

Perth-based residential development group Peet has announced an interim profit of $22.2 million, driven largely by price and margin growth in Victoria.

Atlas Iron has announced a maiden profit result of $30.1 million for the half year ended December 31, and has flagged that profit will increase in the second half of financial year 2011.

WITH the date now set for a boardroom showdown, the battle for control of residential property developer Aspen Group is heating up.

The City of Perth has given its approval to four new city developments, including an eight-level office building at the Playhouse Theatre site, a luxury hotel at heritage-listed St George's House and a 19-storey mixed use development at the Carlton Hotel.

Rio Tinto has appointed Sinclair Knight Merz as the engineering, procurement and construction management contractor for the expansion of its Cape Lambert port in the Pilbara.

Coles will pay its milk processor, Brownes Dairy, an extra five cents per litre of milk to ensure West Australian dairy farmers are not impacted by recent cuts to retail milk prices.

Entrust Funds Management has called on Aspen Group to shed more light on its position in relation to a series of recommendations the group put to its shareholders earlier this week.

Accountancy firm PwC has signed a ten-year lease agreement with Brookfield Office Properties to occupy 8,500 square metres of office space in City Square.

Global procurement and supply chain manager ADG Global Supply has won a three year, $25 million-plus contract with Traverse Drilling International.

Perth based Amcom Telecommunications has increased its full year earnings guidance after announcing a 46 per cent increase in half-year net profit after tax of $7 million from its 100 per cent owned operations.

The Art Gallery of Western Australia is set to get a new look, with the state government committing $10 million to fund a restoration of the gallery's façade.

Bauxite Resources has been granted 13 additional exploration licenses in Western Australia's Darling Range, which the company says will strengthen its joint venture with China's Yankuang Group.

Residential developer Cedar Woods has increased its full year profit guidance after lodging a first half profit of $24.2 million, up from $9.9 million in the previous half-year.

The three Aspen Group directors subject to a movement to remove them from the company's board have denied claims that the group had lost its way and had underperformed since jettisoning co-founder Angelo Del Borello in June last year.

Chinese coal miner Blackgold International Holdings is set to list on the Australian Securities Exchange in Perth tomorrow, after its $70.2 million initial public offering closed oversubscribed.

Perth-based internet service provider iiNet says it is on track to reach its full year guidance after recording a one per cent increase in first half profit.

Computer and office equipment financiers ThinkSmart has lodged a 31 per cent rise in full-year profit on the back of lowered business costs and a 14 per cent increase in sales.

Advanced materials group Matrix Composites and Engineering met its own profit guidance today with a 159 per cent increase in interim profit, but the stock still slipped lower after its stellar run over the past year.

The state government has released an additional 13 residential lots at Perry Lakes, after a successful land auction in December.

WA's steel industry has called for the Barnett government to release more details on how much local work has been created by Chevron's $43 billion Gorgon gas project and Fortescue Metals Group's iron ore operations in the Pilbara.

Planning Minister John Day says he is hoping to stimulate population growth and economic activity in the Wheatbelt with the approval of two significant residential development proposals in Gingin and York.