Mining and engineering contractors were the biggest losers today when the S&P Dow Jones rebalanced all of its Australian indices, with RCR Tomlinson one of the few to buck the trend.
Matrix Composites & Engineering lifted its half-year profit by 29.4 per cent compared with the previous corresponding period, despite dropping 20.2 per cent in revenue.
Property executives were the big movers in this year's Wealth Creators list, while the resources slowdown put the hurt on mining services directors' fortunes.
Matrix Composites & Engineering said today that changing market conditions had resulted in production rates being below expectations and forced it to work with its lenders to ensure adequate funding.
Eight Western Australia-based resources sector firms have been removed from the list of Australia's top 300 companies, providing further evidence that the slowdown in mining activity is hurting WA
Matrix Composites & Engineering says the worst is behind it after recording a $2.9 million loss for the year ended June 30, a significant improvement on the previous year.
Ten years ago this month, one of the state's most debated infrastructure projects opened at the Australian Marine Complex in Henderson. Business News analyses its impact.
Continuing weakness in commodity markets and a failure to pay staff adequate superannuation will combine to take a $5 million chunk out of Matrix Composites & Engineering's expected earnings fo
Shares in Matrix Composites and Engineering have plunged to their lowest level since the company listed on the ASX in 2009, following the release of a major earnings downgrade.
Forge Group has bucked the trend of mining services providers downgrading expectations, forecasting a profit improvement in FY2013 of between 28 and 43 per cent.
The value of shares held by some of the biggest names in mining have slumped along with the companies they lead, but there are pockets of good news in what has been a tough year on the markets.
One-time market favourite Matrix Composites & Engineering has launched a $36.7 million capital raising to strengthen its balance sheet and partially pay off its debts, after disclosing it would
WA-based company Matrix Composites and Engineering has won an agreement with a European oil services company to supply riser buoyancy models for three years, with two one year options following.
Matrix Composites and Engineering says it is targeting organic growth after booking a record $33.6 million net profit for the year to June 30; an increase of 85 per cent on the previous year.
A strong theme among Ernst & Young’s western region finalists for the Entrepreneur of the Year is the technology businesses that have developed to service the resources sector.
IT should come as no surprise that the biggest and most common issue confronting a bunch of successful Western Australian companies is that of labour - getting and keeping the skills they need to meet the strong demand they are seeing.
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.
Malaga-based Matrix Composites and Engineering plans to list on the local stock exchange in a fortnight after raising $15 million through its initial public offer.
