News Articles

15 Jul 2013

New VDM boss plans diversification

Struggling engineering contractor VDM Group has outlined plans to diversify into procurement and mining, after an independent expert ticked off a capital raising that will transfer day-to-day contr

Mining 27 Jun 2013

Viento aims for NRW mark-2

Two years ago, Viento Group was a battling property investment company treading water.

Video 29 May 2013

Former CITIC boss takes control of VDM

Former CITIC Pacific Mining chairman Dongyi Hua has paid $15 million to take a controlling 40 per cent stake in struggling engineering and construction contractor VDM Group.

Deals 28 Feb 2013

VDM to sell Como after bigger loss

Engineering and construction contractor VDM Group has reported a blow-out in its half-year loss to $60 million, up from a loss of $47 million in the previous corresponding period.

Deals 16 Jan 2013

Empired builders find Conducive fit

RECENT mergers and acquisitions activity among some of the state's smaller companies may provide a template to enable others chasing growth to go after their targets more effectively.

Mining 05 Dec 2012

Forge expecting profit jump in FY2013

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.

Special Reports 05 Dec 2012

Ongoing economic uncertainty mirrored in local executives’ remuneration

Tougher economic times and increased scrutiny have put a cap on the growth of executive remuneration.

Special Reports 07 Nov 2012

Chinese bounce to lift commodity stocks

While most media attention seems focused on iron ore and the major operators, there's a number of smaller players offering plenty of potential across a range of minerals. Here's the WA Business News 10 mining stocks to watch.

Mining 29 Oct 2012

VDM slashes jobs to cut costs

Engineering and construction contractor VDM Group has become the latest in a lengthening list of resources-related firms to revise its profit guidance and cut jobs this month, with more than 40 ful

Special Reports 10 Oct 2012

Mid-tier developers add to office supply

FROM Subiaco in the west to Booragoon in the south and Innaloo in the north, more than a dozen mid-sized office developments are either under way or at an advanced stage of planning around Perth.

Mining 28 Sep 2012

VDM bullish after new contract wins

Engineering contractor VDM Group has won $56 million in new contracts, including $42 million worth of new deals with the Queensland Department of Transport.

Mining 30 Aug 2012

VDM says turnaround is progressing

Construction and contracting group VDM says it expects to build on positive momentum built in the second half of the 2012 financial year, after lodging an annual loss of $54.8 million.

Mining 27 Jun 2012

VDM wins $27m in new contracts

VDM Group has announced $27 million in new contracts, including a $17 million deal with Rio Tinto and $10 million in work with Western Power and CBH Group.

Mining 21 Jun 2012

VDM warns of $5m second half loss

Construction and contracting group VDM has told its shareholders to brace for a second half loss of $5 million, after the company took a $4.8 million hit on one of its projects.

Deals 01 Jun 2012

VDM to lose $3m on Cape Crushing sale

Construction and contracting company VDM Group has announced it will take a $2.9 million loss on the sale of its Cape Crushing and Earthmoving Services subsidiary.

Mining 25 May 2012

Contract win for VDM

Civil construction and contracting firm VDM Group has been awarded a $13 million contract from MCC Mining for installation works on the Sino Iron project in the Pilbara.

16 May 2012

VDM announces $38m in new deals

Civil construction and contracting firm VDM Group has won $38 million in new contracts in Western Australia and Queensland.

Mining 29 Feb 2012

VDM sinks to $47m interim loss

Perth-based contracting company VDM Group has reported a net loss of $47 million for the six months ended December 31, the result of lower revenue, a small operating loss and more than $35 million

Deals 15 Feb 2012

Perth’s top PR firms take cream in year’s big plays

FTI Consulting and Professional Public Relations are the top financial PR firms in Perth, WA Business News' annual corporate finance survey has found.

Deals 01 Feb 2012

WA players work hard as foreign firms eat into the raisings pile

Local players in the corporate finance market faced more competition than ever before from big national and international firms, WA Business News' 2011 survey has found.

Financial Services 10 Jan 2012

VDM wins $25m BHP contract

VDM Group has announced today that it has been awarded a $25.2m contract from BHP Billiton Iron Ore for the design and construction of an ammonium nitrate storage facility at BHP's Jimble

Financial Services 19 Oct 2011

VDM raises $35m from entitlements offer

VDM Group says it is set to make a return to profitability, after reporting its entitlements offer raised $7 million more than its $28 million minimum subscription target.

14 Oct 2011

VDM wins $18.4m of new work

VDM Group has announced two new contracts collectively worth $18.4 million, pushing its current financial year order book to more than $100 million.

10 Oct 2011

VDM mulls Cape Crushing offer

VDM Group says it is considering an offer to sell its subsidiary, Cape Crushing and Earthmoving Contractors.

15 Sep 2011

VDM confirms $35.5m FY loss

VDM Group has confirmed a full year net loss of $35.5 million for the year ended June 30, driven by $39.2 million in writedowns and a slowdown in revenue.

12 Aug 2011

VDM stockholders support fundraising plan

VDM Group shareholders have voted in support of the troubled contractor and consulting group's plan to raise up to $52 million to return its balance sheet to the black.

29 Jul 2011

VDM wins new work with BHP

Consulting, contracting and engineering firm VDM Group has announced $66.5 million in new contracts, including a deal with BHP Billiton Nickel West worth more than $40 million.

27 Jun 2011

VDM still in red, plans capital raising

VDM Group has flagged a full year loss of more than $35 million, and says it plans to bolster its balance sheet through the launch of a pro-rata share issue to its existing shareholders to raise up to $52 million.

03 Jun 2011

VDM finalises new-look board

Construction and engineering contractor VDM Group has announced Michael Fry and Richard Mickle have been appointed to its board as non-executive directors.

Appointments 30 May 2011

VDM officially appoints Broad as CEO

Engineering and construction company VDM Group has completed a review of its operations and confirmed Andrew Broad as the permanent successor to Ken Perry as chief executive, effective immediately.

Mining 02 May 2011

VDM receives waiver on banking covenant

VDM Group's difficulties are continuing, with the consulting, construction and contracting group revealing it has come to an agreement with its financiers to alter its lending covenants.

Appointments 04 Mar 2011

Perry retires as VDM Group boss

Ken Perry has stepped down as chief executive of VDM Group, to pursue non-executive opportunities, after just more than a year in charge of the construction, contracting and consulting company.

15 Nov 2010

VDM Group issues 2011 profit warning

VDM Group has become the fourth engineering contractor in recent weeks to significantly downgrade its forecast operating profit for the 2011 financial year.

28 Jun 2010

VDM Group predicts profit lift

VDM Group has announced it expects an increased operating profit this financial year of $14 to $16 million.

Mining 26 Feb 2010

VDM Group profit continues recovery

Engineering company VDM Group has today booked a surge in first-half net profit as it continues to recover from a difficult period.

29 Jan 2010

VDM tips $5m first-half net profit

Improving conditions in the engineering and mining services industry over the past six months have boosted VDM Group's expectations of a higher first half profit for 2009/10, with the company today tipping a $5 million net profit.

Mining 07 Jan 2010

VDM shares up on $14m BHP contract win

Shares in engineering and construction services company VDM Group climbed more than eight per cent after announcing it had been awarded a $14.1 million contract for BHP Billiton Nickel West Talc Redesign Project at Mt Keith.

14 Dec 2009

Citic awards VDM $14.5m contract

VDM Group subsidiary, Wylie and Skene, has secured additional work at Citic Pacific Mining's Sino Iron magnetite project at Cape Preston, with the contract valued at $14.5 million.

02 Nov 2009

VDM Group extends debt facilities

VDM Group says it has reached an agreement to extend its banking facilities by one year after it flagged a $35 million capital raising more than a week ago to reduce its debt.

News Articles for VDM Group

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