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.
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.
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.
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.
