Defence-focused shipbuilder Austal dramatically increased its net profit result in FY25, recording a 503 per cent jump from $14.9 million to $89.7 million over 12 months.
The federal government has formalised its agreement with a new subsidiary of Austal, in a move which confirms its status as a strategic shipbuilder of choice.
Hofmann Engineering has become the first local business to be greenlit to supply parts for US navy assets, in a move the nation’s leaders say is a strong sign for an Aukus future.
Shares in Canning Vale-based VEEM closed trade up 10 per cent to $1.09 on Tuesday, following news it had signed a six-year, $65 million defence contract renewal with ASC.
Ryan Stokes-led diversified business SGH recorded a 5 per cent post-tax statutory net profit increase to $486 million last financial year, led by upticks at concrete maker Boral and Westrac.
Neometals shares have dropped almost 20 per cent on open, after it signed a terms sheet for the sale of its lithium ion battery recycling intellectual property and joint venture stake.
The Australian government will be able to buy Austal's Henderson shipyard and take over its local defence-focused operations if a foreign bidder gains control of the ASX company.
Two major government agreements announced today with Mitsubishi Heavy Industries and Austal have confirmed that Henderson will play a key role as Australia’s shipbuilding precinct.
Perth company Magellan Power is looking for external investors to help fund an expansion of its business, including the construction of a new headquarters and manufacturing facility.
A plan by concrete multinational Holcim to spend $15 million to rebuild its batching plant at Carlisle and triple the facility’s production capacity has been put to the public for comment.
Heidelberg has lost its bid to review the state’s peak planning body’s decision over its Perth concrete batching plant, after a tribunal dismissed its application.
