South Australian Master Builder of the Year revealed

Kennett was awarded Master Builder of the Year – Commercial Builder at the 2024 Master Builders South Australia Building Excellence Awards, taking out multiple award categories including for commercial refurbishment of the Wolf Blass ‘The Man’ Event Centre.

The awards come as the business celebrates its 110th year, and is the business’ fourth time winning the top award.

“This recognition is a testament to the hard work, passion, and unwavering commitment our staff bring to their roles every day,” said director James Kennett.

“Their collective effort and relentless pursuit of excellence have not only elevated our organisation, but also set a benchmark in our industry.”

– Isabella Kelly

Ups and downs for Mayne Pharma

Salisbury-based Mayne Pharma reported a net loss of more than $170 million in the 2024 financial year, amid a rise in underlying profits.

Mayne Pharma reported a 112 per cent increase in revenue from ordinary activities in FY24 to $388.4 million, with gross profit seeing a 162 per cent increase to $218.8 million.

However, a $33.2 million class action settlement relating to alleged anti-competitive conduct in the United States, alongside an acquisition and other costs resulted in the company reporting an overall loss of $174.2 million after tax.

Underlying earnings (EBITDA) were up by $118.2 million on the previous year, reaching $22.9 million.

All three business segments (women’s health, dermatology, and international) reported revenue growth, with dermatology seeing the largest growth at 207 per cent.

– Isabella Kelly

AML3D’s Arcemy unit in action. Photo: supplied

Loss-making AML3D delivers revenue after busy year of deals

After signing some of its biggest deals to date in FY24, 3D metal printing firm AML3D has generated $7.32 million in revenue during the period compared to just $600,000 the year prior.

The company remains loss-making, but with several major US deals signed over the 12 months plus a new headquarters in the region the company is bullish on its prospects.

“Through the “US Scale-up” strategy AML3D is realising significant value from the company’s proven, proprietary, metal 3D-printing technology and delivered its most successful year on record in FY24,” chairman Noel Cornish and managing director & CEO Sean Ebert said in a joint letter to shareholders.

“The US market remains AML3D’s most important growth market, with the US Defence sector a primary driver of demand for ARCEMY system sales and contract manufacturing orders.”

AML3D has $7.79 million in cash and equivalents on hand as of 30 June 2024 following as $6.9 million raise in May, proceeds of which were used to establish its US manufacturing hub and invest in R&D.

– David Simmons

Tasmea make $84 million acquisition

Specialised trade skills services provider Tasmea has announced an acquisition of Western Australian Future Engineering & Communication Pty Ltd and associated entities for an estimated $84.5 million.

Tasmea said the acquisition would position the company to “capitalise on the rapidly growing electrification demand in Australia, supporting the integration of critical renewable energy sources into existing grids”.

Future Engineering Group carries out the design, supply, and installation of communication structures and high-voltage powerline infrastructure around the country and overseas.

“This acquisition now positions Tasmea with end-to-end electrical capabilities, enabling us to offer fully integrated solutions from start to finish – a rare capability in the industry,” the company said.

– Isabella Kelly

A Cooper Energy rig in Victoria’s Otway Basin. Picture: Robert Garvey.

Cooper Energy losses blowout despite record annual production

South Australian gas producer Cooper Energy posted a $114.1 million loss in the last financial year, despite hitting a production record in the 12 months to 30 June 2024.

The company attributed the $53.6 million increase in its loss after tax to irregular items like a $110.3 million non-cash restoration expense relating to a reassessment of decommissioning projects, $3.4 million of business restructuring costs, impairments and other expenses relating to levies and taxes.

Were it not for these expenses, the company would have achieved a $1.4 million profit after tax.

Cooper Energy performed well otherwise, boosting underly earnings to record levels of $127.5 million and meeting FY24 production guidance.

CEO Jane Norman said the financial year was “pivotal” for the gas producer which has gas production assets in Victoria and South Australia.

“Production performance steadily improved over FY24,” Norman said.

“Looking ahead to FY25 and beyond, as the Federal Government’s Future Gas Strategy has confirmed, gas will continue to play a critical role in the energy transition, delivering firming power to support the integration of intermittent renewable energy.”

– David Simmons

Energy bill relief for small businesses in new grants

Small businesses can apply for grants from $2500 – $50,000 to assist them with energy bills under the second round of the state government’s Economic Recovery Fund.

Grants can be invested in the purchase and installation of power supply and generation equipment, energy-efficient appliances, and building improvements to improve heating and cooling efficiency.

Grants will be given on a first-come, first-served basis, with businesses able to register interest through the Office for Small and Family Business website.

– Isabella Kelly 

Grain Producers announce inaugural awards

Grain Producers SA (GPSA) will hold the first South Australian Grain Industry Awards in early 2025, with six categories recognised and a Hall of Fame induction.

Categories include Grain Producer of the Year, Young Grain Producer of the Year, Innovation, Sustainability, Women in Grain, and Industry Impact.

“We are eager to celebrate the success of our industry and to provide a platform for recognising the incredible efforts and individuals that drive the multi-billion dollar South Australian grain sector forward,” said GPSA CEO Brad Perry.

Nominations for the awards will open in the coming months. Elders and the Department for Primary Industries and Regional Development are both sponsoring the event.

– Isabella Kelly

Navigating Australia’s Water Future, an Agribusiness event with Tom Rooney of Waterfind, Judith Damiani of Western Murray Irrigation, and Mark Barber from Elders and Agribusiness Australia, at the National Wine Centre on September 5.

National Self-Employment Conference, a two-day event with industry experts and Andrew Leigh, at the Stamford Grand on September 9 – 10.

South Australia’s Strategies for Gender Equality, a CEDA event providing an update on the Gender Pay Gap Taskforce with Minister for Women Katrine Hildyard, location to be determined, on September 17.

Transport and Infrastructure Panel, a French-Australian Chamber of Commerce and Industry event with Keolis Downer looking at the renewable energy and zero emission bus industry, at The Village Well on September 19.

South Australian Business Index, an InDaily event presenting an independent ranking of South Australia’s top 100 companies, with Premier Peter Malinauskas and media personality David Koch, at the Adelaide Convention Centre on September 20.

Inspiring Women Impacting the World and Beyond – Women in Defence, an Australia Day Council event with Jessica Pisani from the Department of Premier and Cabinet, Kate van Hilst from the Australian Submarine Agency, and Libby Day from the Defence Teaming Centre, at the Allan Scott Auditorium on September 20.

AI Friend or Foe, a Property Council event with the Future Directions and Future Trends and Innovation Committees looking at Artificial Intelligence use in the property sector, at the University of Adelaide on September 20.

Pink Yellow Blue Disco, a Flinders Foundation event raising funds for cancer research and care, at the Adelaide Convention Centre on October 12.

Australia’s Space Future Conference, a French-Australian Chamber of Commerce and Industry event with REDARC Defence & Space and Neumann Space, at REDARC Electronics on October 29.

Wake up to Change, an Adelaide White Ribbon event with criminologist and former senior police officer Vincent Hurley on the prevention of violence against women and children, at the Adelaide Convention Centre on November 7.

Mighty Kingdom records another profit drop

Mighty Kingdom reported a $7 million loss in FY24, in a 26 per cent revenue decrease to $5.1 million, in a year marred by staff cuts and leadership changes.

The company reported a $6.8 million loss from operations in a 22 per cent reduction from the $8.8 million loss in FY23.

“This total income reflected the Group’s on-going development of projects with key existing partners, with new revenue opportunities hindered by the uncertainty faced by the Company during the year,” the company said.

“The group’s ability to execute on its strategic objectives significantly hampered during the period due to a lack of working capital and disputes with former major shareholder Gamestar.”

– Isabella Kelly

Flinders University achieve world-first sustainable rating

Flinders University is the first organisation globally to receive a Gold rating under version three of the international Sustainability Tracking, Assessment and Rating System (STARS), which measures sustainability in higher education.

Vice-chancellor Colin Stirling said the rating was a “milestone for Flinders University and a testament to our ongoing dedication to sustainability”.

“We excelled in areas including energy efficiency, resource recovery, recycled water, sustainable building design, and greenhouse gas emissions reduction initiatives, as well as sustainability in research, social equity and applied learning,” Stirling said.

– Isabella Kelly

Photo: supplied

Detpak launch Australia’s largest compostable packaging range

Detpak has launched a line of more than 20 commercially compostable and recyclable Polybutylene Succinate (PBS) lined cartons, trays and lunchboxes, making it the country’s largest range.

The launch is in line with new single-use plastic laws which came into effect in South Australia yesterday, following the 2023 ban of single-use plastic bowls and plates.

Detpak said it had been developing the new range over the last 18 months in anticipation of the changes, with general manager of product and brand Keith Bishop saying it would provide more options for the takeaway food market.

“The more sustainable choices we provide for businesses and consumers, the easier it will be to change habits within our wider community.”

– Isabella Kelly

Neumann Space complete first test on novel propulsion system

Neumann Space and the University of Melbourne announced a successful first on-orbit test of the Neumann Drive, a novel electric propulsion system that was integrated into the SpIRIT nanosatellite launched last year.

The Neumann Drive combines solid metal propellant with a design that enables on-demand mobility in space, with the unique capability to be transported and stored with a full load of fuel.

An ongoing testing campaign will continue for the two-year mission, as the Neumann Drive’s long-term characterisation in orbit is established.

“There is nothing like proving what you can do in space. Demonstrating our technology in the space environment is not only rewarding but important to delivering assurance and confidence to the global small satellite industry,” Neumann Space CEO Herve Astier said.

– Isabella Kelly