Leighton Holdings Ltd
(ASX:LEI) subsidiary John Holland has secured a $270 million contract for the redevelopment of the Joondalup Campus in Perth.
The company says the redevelopment, which will begin this month, is jointly funded by the West Australian Government and Ramsay Health Care.
John Holland says the contract will be undertaken across seven key phases, beginning with an upgrade to access roads and car parking facilities.
Total value of the project is $332 million, with the value of works under John Holland management estimated at $270 million.
General manager Adam Harry says this project cements John Holland’s position as the pre-eminent construction contractor in Western Australia for major building projects. 2008 was a highlight for Leighton Holdings, recording its best net profit in five years.
Property investor Goodman Group (ASX:GMG) has reported an unaudited loss of $1.1 billion for the 2009 financial year, also releasing details of a $1.8 billion capital raising to help strengthen the company’s balance sheet.
The company says operating profit after tax was $408 million, down from $567 million the year before.
The equity offer to raise $1.3 billion is fully underwritten at an issue price of $0.40 cents per security.
Goodman Group says the refinancing initiatives will also include a $500 million preference issue to the Chinese Investment Corp.
The company has also reached a $163 million joint venture deal with Canadian Pension Plan, to develop and own logistic assets in China.
The Group estimates operating profit after tax for the 2010 financial year of $310 million. Goodman Group’s 2008 net profit took a big tumble from the company’s high in 2007 of $622.5 million.
Resource company Equinox Minerals Ltd (ASX:EQN) has posted a net loss of $38.7 million for the three months to June 30, compared with a $1.8 million loss for the same period a year ago.
This was despite the company reporting an operating profit of $36.1 million from its Lumwana copper and uranium mine in Zambia.
Lumwana began production in April, producing 24,413 tonnes of copper at a cost of $1.44 for the quarter.
The company says Lumwana continues to ramp up and management estimates interim production guidance for the 2009 calendar year, including this quarter’s production, will be in the range of between 110,000 and 120,000 tonnes of copper metal concentrates at an average estimated cost of between US$1.35 and US$1.50 a pound.
Equinox says its focus will be on operating its flagship Lumwana mine in Zambia. Equinox Minerals lifted itself out of the red to post a profit in 2008.
