Aecon sees revenues rise

By Chris Sleight04 November 2010

Aecon has reported a +13% rise in revenues for the third quarter of the year to CA$ 800 million (US$ 792 million). Operating profits rose +2.5% to CA$ 32.6 million (US$ 32.3 million).

The biggest rise in revenues came from the company's Industrial Division, which carries out mechanical & electrical engineering as well as manufactures speciality pipe and plant. Although revenues were up +23% to CA$ 266 million (US$ 263 million), the unit made an operating loss of CA$ 6.1 million (US$ 6.0 million), due it said to weaker market conditions and lower margins in the heavy industrial sector.

Aecon's largest division is its infrastructure business, which saw revenues rise +13% to CA$ 386 million (US$ 382 million) over the quarter, while operating profit was up +71% to CA$ 42.5 million (US$ 42.1 million).

With the company's total order backlog rising to a record CA$ 2.5 billion (US$ 2.47 billion), and its end-markets improving, the company was up-beat about its prospects. "Aecon's record backlog, on-going strength, depth and durability of the public infrastructure markets and the increasing return to strength of the oilsands market, combine to signal a strong outlook for Aecon," said chairmen & CEO John M. Beck.

Latest News
“Technologies of Transition” focus of Diesel Progress Summit
Fifth annual event to be held in Louisville just prior to Utility Expo
Enter the ACT Specialized Lifting 50
On this list are companies that provide lifting and rigging services using such equipment as gantries, tower lifts, strand jacks, skates, rigger trucks and SPMTs. 
Bosch to take 12% stake in Husqvarna
Move intended to strengthen companies’ battery alliance