Aecon enjoys record backlog
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Canadian contractor Aecon's order backlog stood at a record CA$ 1.48 billion (US$ 1.42 billion) at the end of June, +22% up on the figure of CA$ 1,21 billion (US$ 1.16 billion) a year previously. The company had revenues of CA$ 740 million (US$ 710 million) for the first half of the year, a +28% rise on 2007 and its operating profit was up +47% to CA$ 37.4 million (US$ 35.9 million).
Aecon said the rise in revenues was due to stronger performances in its Buildings, Industrial and Concessions segments, which offset a decline from its Infrastructure business. Commenting on the results, chairman and CEO John beck said, "Aecon's outlook has never been stronger. The record results achieved in the second quarter continue the upward momentum that Aecon has established over the last two years.
President and CFO Scott Balfour added, "The ongoing strength of Aecon's core markets, especially in the energy and transportation sectors in Canada, bode well for continued strong financial performance, and out record backlog is a strong positive signal that the best is yet to come from Aecon."
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