Ainsworth gaming making slow recovery
Gaming machine manufacturer Ainsworth Game Technology is slowly recovering from the slump in the gambling industry forced by the Covid-19 pandemic. The Sydney company reported a loss before tax of $14 million for the first half year, excluding a currency loss of the same size caused by the strengthening of the Australian dollar. Underlying earnings were $6 million as North American operations show positive signs and new products performed well in Australia. During the pandemic the company instituted major cost reductions, firing staff as casinos closed globally.
Cimic’s strong result defies Covid-19
Diversified engineering company Cimic Group shrugged off the Covid-19 pandemic in the year to December 31, reporting an underlying met profit after tax of $601 million on revenues of $11.4 billion. The engineering and mining services business successfully concluded the sale of 50 per cent of Thiess during the half, strengthening its balance sheet and preparing it for growth. The company has $30 billion of work in hand.
New anti-dumping commissioner
Dr Bradley Armstrong who has public and private sector experience has been appointed Australia’s new Anti-Dumping Commissioner.
Dr Armstrong – most recently as Deputy Comptroller-General at the Australian Border Force – will oversee Australia’s anti-dumping regime, and investigate dumping allegations.
Dedicated solar panel recycling facility planned
Australia’s first dedicated solar panel recycling facility is planned for Lonsdale south of Adelaide operated by Reclaim PV Recycling. The company has amassed 70,000 panels in preparation for operation – equal to a year’s planned capacity. Reclaim was spun out of Solar Maintenance and Renewable Technologies. Last year the Ojas Group won a federal government grant to provide solar panel recycling services.
Picture: Ainsworth Game Technology
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