Tag: sa business index
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Top Santos exec quits
Santos chief financial officer Sherry Duhe – who was appointed in September 2024 – resigned today. It comes after a tumultuous year, including a failed takeover bid, for South Australia’s largest company. She will be replaced on an acting basis by Lachlan Harris, who will head up the financials for the state’s largest company. Duhe…
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SA business cracks $1 billion in sales after east coast buy
Fifth-generation family-owned contracting business Ahrens has bought respected Victorian construction company Vaughan Constructions for an undisclosed sum in a bid to expand interstate. The deal draws together two Australian family-owned stalwarts together, with almost 200 years of combined experience in the construction, steel, engineering, mining services and rural manufacturing industries. SA-based Ahrens – a 123-year-old…
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Santos profit slumps as suitors get more time
Santos’ profit for the half year ending 30 June 2025 was more than $600 million, down 31 per cent on the prior year. The Adelaide-based oil and gas company said the results were “strong”, with revenue more than $2.5 billion and earnings of about $2 billion for the period. Production volumes of oil were comparable…
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SA Business Index: Tech tracks upwards in 2024
One leader of South Australia’s technology sector rose a whopping 11 spots in 2024 to land in the top ten of the 2024 SA Business Index, to be released this afternoon. Metal detection and mining tech firm Codan, one of three new companies in the 2024 top 10, experienced a significant revenue increase of more…
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Filling the Adbri-sized hole in the SA Business Index
Shareholders rejoiced earlier this year when Adbri received a $2.1 billion takeover offer from a consortium comprising Dublin-based CRH’s Australian subsidiary and major shareholder Barro Group. The deal, for $3.20 per share, included a plum 41 per cent premium for shareholders. The company delisted in June, and now that it’s under foreign and interstate ownership…
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Winners and Losers: A mini crisis for Chrysos Corporation
Chrysos Corporation told shareholders last week that it expected earnings to come in at the lower end of its $7-17 million forecast range and revenue to fall below a previously announced range of $48-58 million. This update, alongside an announcement that its deployment schedule was being affected by “site-readiness challenges”, led to disappointed shareholders. The…
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Adbri gets $50m grant for Birkenhead upgrade
Adbri, one of Adelaide’s top companies, won the grant to undertake a front-end engineering and design study that may lead to upgrades of its cement facility at Birkenhead. Announced to shareholders today, Adbri secured the money from the federal $400 million Critical Inputs to Clean Energy (CICEI) program, established to support projects that will assist…
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Santos profits slide on weak oil and gas prices
Santos’ underlying profit for the year ending 31 December was US$1.42 billion (AUD$2.17 billion), down 42 per cent from US$2.5 billion the year prior. The Adelaide-based company blamed lower oil and gas prices for the drop in profits and revenue, the latter of which was also down by 24 per cent to US$5.9 billion in…
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Argo Investments underperforms top ASX companies as profit slides in first half
The company, second only to Santos in South Australia, saw profits fall by 8.5 per cent to $125.3 million in the six months to 31 December, with investment income received from holdings in its portfolio softer on lower dividends from its interests in mining firms. Earnings per share fell 9.3 per cent too, with the…
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Winners and Losers: NeuRizer issued speeding ticket after sudden spike
The ASX issued NeuRizer a speeding ticket at the end of last week after the company – which is aiming to be Australia’s first carbon-neutral producer of urea fertiliser – saw its shares skyrocket from $0.007 per share to $0.012 before the long weekend. NeuRizer said it was not aware of any information that could…