Southern Cross Electrical Engineering has reported a net profit after tax of $4.5 million for the first half of the financial year, a rise of 66 per cent from the prior corresponding period.
Southern Cross Electrical Engineering founder Frank Tomasi has cashed in about one quarter of his shares in the company, after signalling his intention to retire from the board.
Perth-based Southern Cross Electrical Engineering has secured a number of new contracts across the country in the commercial, resources and telecommunication sectors.
Southern Cross Electrical Engineering has been awarded a $55 million electrical instrumentation installation contract at the Westconnex M5 road project in NSW.
Southern Cross Electrical Engineering has been awarded a $20 million contract for work on the central section of the Northlink WA roads project, while Perth-based Tempo Australia has secured a series of contracts totalling more than $6 million.
Southern Cross Electrical Engineering has been awarded a number of new commercial and public infrastructure contracts across Australia totalling more than $90 million, including $66 million of work at a new section of the Westmead Hospital in New South Wales.
SPECIAL REPORT: The five WA people with the largest holdings in listed companies have earned around $1.5 billion in dividends in the past five years, with Andrew Forrest and Kerry Stokes leading the way. Click through for our list of 50 directors and investors with holdings worth more than $11 billion between them.
Southern Cross Electrical Engineering will raise $32 million through a share placement to provide working capital as the company's order book continues to expand.
Southern Cross Electrical Engineering has announced a number of contract wins worth a combined $100 million, with the majority of the work to be carried out by recently acquired, Sydney-based subsidiary Heyday.
Perth-based contractor Southern Cross Electrical Engineering has won $25 million in contracts for work on Rio Tinto's Amrun bauxite project in Queensland, bringing to about $150 million the value of contracts earned this month.
Southern Cross Electrical Engineering's recently acquired Sydney-based subsidiary, Heyday5, has been awarded more than $50 million of new contracts to carry out electrical services work on a number of major development projects.
Southern Cross Electrical Engineering, through its KSJV joint venture with energy service provider Kentech, has received over $30 million of additional orders under a subcontract with Bechtel.
Southern Cross Electrical Engineering expects to bounce back from a net loss in the first half of the 2017 financial year after announcing the “transformational” acquisition of a Sydney-based electrical contractor.
Perth-based Southern Cross Electrical Engineering says its joint venture with Kentech has grown its order book at the Chevron-operated Wheatstone LNG project near Onslow to $60 million.
Southern Cross Electrical Engineering shares lost nearly a quarter of their value today after the company warned of a $2 million loss for the six months to December.
A report commissioned by Bankwest has come up with the surprising finding that a quarter of small and medium-sized enterprises (SMEs) pay their chief executives more than $500,000 per year.
Chief executive salaries in WA are continuing to ratchet down, and companies are seeking more flexibility, a study of nearly 30 new appointments this year has found.
Stephen Pearce has been appointed to the board of Fortescue Metals Group, but will retain his current role as chief financial officer of the iron ore giant.
Shares in Southern Cross Electrical Engineering surged on news the company has entered into an agreement to buy a local telecommunications contractor in a deal worth up to $17.2 million.
SPECIAL REPORT: Growing infrastructure needs and a diminishing capacity to fund them is a major challenge for WA, according to key players who attended a recent Business News forum.
The downturn in mining and construction activity in Western Australia has delivered a mixed bag of results for several contractors today, with the major surprise being a downgrade in MACA's revenue outlook.
Southern Cross Electrical Engineering says it has won $20 million in new contracts and extensions since the start of the year, including a contract for work at BHP Billiton's Jimblebar iron ore mine in the Pilbara.
Diversified contractor AusGroup has shocked the market with a $69.8 million quarterly loss, admitting it has been forced to write off long-standing contractual claims in order to boost its cash reserves.
Southern Cross Electrical Engineering has flagged its return to the black, saying it expects to report a $3.5 million first-half profit and remain profitable throughout the financial year.
Perth-based contractor AusGroup has recruited former Southern Cross Electrical Engineering boss Simon High as chief executive of its engineering services arm.
Western Australia's highest paid mining contractor is set to lose that title, after NRW Holdings joined most of its peers in cutting the salary of its chief executive by 40 per cent.
SPECIAL REPORT: Newly appointed chief executives in Western Australia are mostly receiving lower salaries than their predecessors, but retaining plenty of upside through incentive schemes, a survey of nearly 40 new CEO pay packages has found.
Southern Cross Electrical Engineering has recruited NRW Holdings chief operating officer, Graeme Dunn, to lead the company as its new managing director.
Perth-based Southern Cross Electrical Engineering has been hired to finish off work at Yara International's $US800 million Burrup ammonium nitrate project in the Pilbara, after Downer walked off the job last week.
Perth-based contractor Decmil Group has outperformed most of its peers, reporting a relatively small dip in profit after lifting revenue to record levels, while Southern Cross Electrical Engineering has slumped to a loss after restructurng the business on the back of challenging conditions in the resources sector.
Southern Cross Electrical Engineering shares jumped nearly 13 per cent today to their highest price since March, after the company announced an annual loss but maintained its dividend and was cautiously positive about its outlook.
