Despite overall external revenue regressing by 11 per cent from the prior corresponding period, Emeco Holdings posted strong profits during the first six months of the 2025 financial year.
UPDATED: Mining services provider Emeco has received a second strike against its remuneration report, despite amendments it made in response to shareholder feedback last year.
Western Australian contractors and mining services providers have detailed the impact of the nickel industry woes in half year results reported to the market.
Emeco will walk away from underground contract mining after selling its Pit N Portal business to rival Macmahon, in a deal allowing it to focus on underground equipment rental.
Emeco Holdings has announced a new chief executive for its underperforming Pit N Portal division while also renegotiating a major contract with Mincor Resources.
Andrew Forrest-backed Mincor Resources has approved the development of its nickel operations in Western Australia's Kambalda region, identifying first production from December next year.
Emeco Holdings' recently acquired subsidiary Pit N Portal has secured two contracts with Mincor Resources for work on its nickel operations in Western Australia.
Fortescue Metals Group chair Andrew Forrest has purchased an additional $242 million worth of shares in the company, shortly after Perth-based executives of other leading companies, including Peter Coleman, Ian Testrow and Bill Beament, also made big trades.
Contractors Monadelphous and Emeco Holdings enjoyed solid share price gains today after reporting their interim results, with Emeco posting higher profits and improved margins while Monadelphous forecast a 10 per cent increase in revenue for the full financial year after a soft first-half.
Emeco Holdings has expanded its service offering after signing a $72 million agreement to acquire Australian underground mining equipment and services provider, Pit N Portal.
SPECIAL REPORT: There has been a notable reduction in the number of high-earning executives in WA, though some individuals do well year after year, research by Business News has found.
Heavy equipment supplier Emeco Holdings has posted operating earnings of $153 million in its preliminary financial year results, which included a strong fourth quarter performance due to a ramp-up in new projects.
Emeco Holdings has made its fifth big acquisition in the past three years, acquiring Queensland-based Matilda Equipment for $80 million while also announcing a $90 million capital raising to fund the purchase.
Heavy equipment supplier Emeco Holdings has recorded its first period of net profit since 2013 as the company cited improving market conditions as a key driver of increased earnings.
SPECIAL REPORT FOR SUBSCRIBERS ONLY: The annual Business News remuneration survey has data and in-depth analysis on hundreds of WA company directors and executives. We identify the top earners, including the people who qualified for large bonuses and equity incentives, in some cases year after year. The survey also reveals a big jump in the number of WA people who earned incomes of $1 million or more last financial year.
Perth-based Emeco Holdings has added to the acquisition of two east coast mining equipment rental businesses, today announcing a $70 million takeover of fellow Western Australian company Force Equipment.
Heavy equipment supplier Emeco Holdings has its sights set on a positive year ahead, after narrowing its net loss to $180 million following a year of write-downs and the completion of a three-way merger.
Heavy equipment supplier Emeco Holdings will leave its struggling operations in Chile behind through an asset swap agreement that will boost its Australian fleet by 85 units.
Heavy equipment supplier Emeco Holdings has launched a fully underwritten $20 million capital raising to fund its three-way merger with east coast companies Orionstone and Andy's Earthmovers.
Heavy equipment supplier Emeco Holdings has turned its focus to completing its merger with east coast companies Orionstone and Andy's Earthmoving after noteholders backed a complex balance sheet restructuring today.
Osborne Park-based heavy equipment supplier Emeco Holdings has reduced its first-half net loss after tax by around 70 per cent, to $31.3 million for the six months to December.
Cirrus Networks has been earmarked for a contract to provide IT managed services to heavy earthmoving equipment supplier Emeco Holdings for an undisclosed sum.
Shares in Emeco Holdings surged after the mining equipment supplier posted a solid performance in the December quarter, with fleet utilisation numbers up and positive earnings results.
Two days after some of Emeco Holdings' large creditors blocked a major restructuring, they have reversed their stance after being given an opportunity to acquire more equity in the group.
