Former GMP Securities managing director Karl Paganin has joined the board of Southern Cross Electrical Engineering, after half of the company's board walked out last month.
Half of the board of Southern Cross Electrical Engineering has walked off the job, including chairman John Cooper, after it flagged a change in direction, a number of redundancies and cost-saving initiatives in response to the tough climate for local contractors.
Investors didn't respond well to Southern Cross Electrical Engineering advising the market that it did not expect to report a profitable second half of the financial year.
Perth-based contractor Southern Cross Electrical Engineering has reported a 34 per cent slide in profit to $4.1 million for the six months to December, with the company facing challenging and competitive conditions in the sector.
Southern Cross Electrical Engineering managing director Simon High has announced his impending retirement after spending nearly five years at the helm.
China-based Citic Group has flagged a $US1.4 billion to $US1.8 billion impairment at its Sino Iron magnetite project in the Pilbara as a result of the falling value of iron ore.
Southern Cross Electrical Engineering is the latest WA based company to commence an on-market share buy-back, as the trend towards returning capital to the market continues.
Southern Cross Electrical Engineering has reported a $9.6 million slump in full-year profit to $7.7 million on the back of a 21 per cent fall in revenue to $218.2 million.
Southern Cross Electrical Engineering has won a $70 million electrical and instrumentation works contract from CITIC Pacific for its Sino Iron project at Cape Preston, adding to a $10 million job won two weeks ago.
Perth-based Southern Cross Electrical Engineering has been awarded an electrical and instrumentation contract at CITIC Pacific Mining's Sino Iron project at Cape Preston, worth over $10 million.
Western Australia-based Southern Cross Electrical Engineering has won a $25 million contract with BHP Billiton Iron Ore for electrical and instrumentation works at the Yarnima power station near Newman.
SPECIAL REPORT: With new project work from the resources and government sectors slowing down, contractors will need to look harder for work opportunities.
Southern Cross Electrical Engineering has forecast a big fall in net profit for the 2014 financial year, with intense competition for contracts squeezing its margins.
Southern Cross Electrical Engineering has secured another two contracts with mining giant Rio Tinto, taking the total value of work it has secured at Rio projects this year to $100 million.
Southern Cross Electrical Engineering has been awarded a $40 million contract for further electrical and instrumentation works at Rio Tinto's Cape Lambert Port B project.
Southern Cross Electrical Engineering has bolstered its order book, securing electrical and instrumentation works worth more than $10 million at Rio Tinto's Nammuldi below water table project.
Southern Cross Electrical Engineering has been awarded a $40 million electrical and instrumentation contract at Rio Tinto's Cape Lambert Port B project in the Pilbara and says it is in negotiations with the mining giant to secure further works at the project.
Southern Cross Electrical Engineering has officially opened its new corporate office in Naval Base, a move managing director Simon High says reflects the business's growth and confidence in the yea
Southern Cross Electrical Engineering's liquefied natural gas arm is in line to win a $50 million contract at the Pacific LNG project on Queensland's Curtis Island.
Electrical and instrumentation contractor Southern Cross Electrical Engineering has shrugged off continuing uncertainty in the mining services sector, saying growth opportunities remain even after
The nation's mining equipment, technology and services (METS) sector generates more than $90 billion in revenue and contributes 6.4 per cent to the Australian economy each year, new research says.
Investment bank Gresham believes conditions are right for significant corporate finance activity in mining services as companies in the sector look at growth and diversification strategies.
Southern Cross Electrical Engineering has booked a 17 per cent drop in interim net profit, which it says was the result contract signing delays on two major projects.
Southern Cross Electrical Engineering is looking to capitalise on unprecedented demand for its services from the liquefied natural gas sector by launching a joint venture with international electri
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.
Southern Cross Electrical Engineering has reported a 78 per cent lift in revenue, on the back of continued success in Western Australia's resources sector.
Southern Cross Electrical Engineering has won a contract with BHP Billiton subsidiary Nickel West to provide electrical and instrumentation at the Talc Redesign Project.
The cost of integrating three business acquisitions has helped shave $3.9 million off the interim net profit result for Southern Cross Electrical Engineering.
Southern Cross Electrical Engineering has today executed a deal to acquire Queensland business Oceanic Industries for $12.4 million and has forecast first half earnings to reach $4.8 million.
CHAIRMAN Frank Tomasi has taken advantage of a run-up in Southern Cross Electrical Engineering's share price on the back of a lucrative oil and gas contract and acquisitions.
Southern Cross Electrical Engineering's re-entry into the oil and gas sector has kicked off with a $35 million contract win at Woodside Petroleum's Pluto liquefied natural gas project.
Southern Cross Electrical Engineering have posted a record net profit after tax of $15.5 million, an increase of more than 36 per cent, thanks to record revenues of more than $100 million, up by more than 19 per cent on the previous year.
Southern Cross Electrical Engineering will pay up to $5.1 million to acquire FMC Corpration, which operates Hindle Offshore Services and Hindle Electrics, as part of its strategy to re-enter the oil and gas sector.
