Latest Headlines

Property developer Aspen Group has booked a full-year loss after tax of $64.7 million after accounting for $97.9 million of writedowns.

Babcock & Brown Power, the owner of Alinta, has narrowed its net loss in fiscal 2009 and says it hopes to announce by the end of November how it will deal with more than $3 billion of debt and whether it will change its company structure.

Ramelius Resources is pressing ahead with its takeover offer for WA goldfields neighbour Dioro Exploration, even though Avoca Resources has snared 44 per cent of Dioro..

Shares in Perth-based engineering group Forge Group soared over 13 per cent today, after it smashed its full year earnings forecast to book a net profit of $15.6 million for the financial year, a 100 per cent increase on its 2008 result.

Perth-based mortgage originator, Homeloans has posted a record statutory net profit after tax of $7.2m for the year ended 30 June 2009, turning round a statutory net loss of $12.5 million last year amid lower lending volumes.

Mineral sands miner Iluka has received a boost in its share value today after it reached a settlement with engineering outfit Downer EDI and secured an $8.6 million insurance payout from last year's Varanus Island gas outage.

The state's largest road project, the Perth to Bunbury Highway would be opened to traffic from Sunday, September 20 and work on the next stage of the Dampier Highway Duplication project in the Pilbara has commenced.

Perth company Liquified Natural Gas has appointed CB&I as project management consultant for its planned three million tonne per annum LNG project at Fisherman's Landing in Queensland.

Engineering services provider RCR Tomlinson has posted a profit of $13.95 million for the year to June 30, falling 22 per cent on last year's $17.9 million despite its sixth consecutive year of record sales.

International recruitment firm Total Staffing Solutions is set to merge with blue collar recruitment company Humanis Group, which owns Westaff, in a deal worth up to $9.24 million to create a mid tier Australasian labour hire provider.

Construction contractor John Holland Group has blasted its way into WA's booming oil and gas sector with a $160 million contract to build Apache Energy's Devil Creek gas plant in the Pilbara, snaring work originally to be undertaken by Clough.

Engineering and infrastructure services outfit Downer EDI has expanded its mechanical, construction and maintenance business with the acquisition of Kwinana-based Western Construction.

Gillard delays pain on penalties; Crown jewels turn to paste; PM revamps stimulus package; Virgin Blue posts $160m loss; Mining services groups surprise on the upside

Audax Resources has completed a capital raising worth more than $2.5 million from sophisticated and institutional investors, including a London fund and clients of another London firm for a drilling program in Tunisia.

Gold miner Resolute Mining Group has turned last year's $56 million loss into an after tax profit of $27.4 million in FY2009, including an unrealised treasury gain of $1.1 million, on the back of increased revenues, production and gold cash costs.

Automotive Technology Group has formed an agreement with Perth businessman, Michael Wilson to raise up to $6.2 million for the company in a two-part deal involving an entitlement issue and a share placement.

Modular and transportable buildings manufacturer, Nomad Building Solutions posted an overall profit of $13.3 million following the economic downturn negatively impacting its clients' investment decisions and an impairment charge of $6.8 million.

Wesfarmers today announced two new board appointments including Perth-based Diane Smith-Gander and retail expert Archie Norman, as well as changes to its corporate affairs team.

Nickel miner and metals explorer, Independence Group has posted a profit of $16.1 million for the year to June 30, down almost 69 per cent per cent from last year's result of $51.5 million as falling production and spot nickel prices affected revenues.

After superannuation funds were hammered at the hands of the global economic downturn, it seems Western Australians are the most reluctant to believe their retirement nest eggs will ever return to their former glory, a survey has found.

Shares in engineering and construction company, Decmil Group finished stronger today after posting a record profit of $10 million, up from just $55,000 the previous corresponding period, after securing substantial contracts with global clients.

Junior gold producer, Troy Resources has made a remarkable recovery after suffering a severe loss last year, posting a $16.7 million profit amid enhanced gold production and increased revenue.

Marine engineering outfit, Neptune Marine Services has posted a profit of $21 million for the year to June 30, an increase of almost 200 per cent on the previous year's $7.4 million thanks to its diverse service offering and strong revenue gains.

Gaming group Crown posted a loss of $1.2 billion FY2009 after writing down the value of its US assets due to the downturn but says it will focus on its Australian and Macau assets following strong performances from its Burswood and Crown casinos.

Shares in diversified miner OZ Minerals have fallen almost five per cent this morning after posting a heavy first half loss, following the sale of many of its assets and a lower copper price, but says it is in a strong financial position.

Sage chases backing for $200m Lady Annie float; Australia Post in $700m shake-up; Media moguls face off; PM's cash cure fails to lure nurses; Long haul for Asciano with gloomy outlook

WHILE junior explorers dominated the 10 best-performing Western Australian stocks last financial year, was there a defining characteristic that bound together the worst performers for the year? A lack of scale would seem to be one possibility, with the 10

NO matter which way you cut it, the 2008-09 financial year was a shocker for investors in local companies, with only 110 of the 730 or so Western Australian-listed companies managing a positive return of any sort.

THE global financial crisis had a marked impact on Western Australia's engineering contractors during the year as the slowdown forced resources companies to scale back and defer numerous new developments and expansions.

THE global financial downturn has had a dramatic impact on the dividend yields of those Western Australian stocks that still pay regular dividends.

WITH much front page hype, the federal government last week announced what it claimed was Australia's biggest ever deal when PetroChina agreed to buy 2.25 million tonnes of LNG a year for 20 years, worth $50 billion.

The Western Australian Trade Opportunities Service is operated by the International Trade Centre of the Chamber of Commerce and Industry of Western Australia.