Aecon sees revenues rise

04 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
Algeria event marks Haulotte distribution renewal
Co-organised event aimed at promoting MEWP services in the country 
Oshkosh buys into AI battery developer
JLG’s parent company aims to use advanced analytics for battery management  
Judge: decision to halt demolition of flagship M&S store was “unlawful”
High Court rules in favour of Marks & Spencer, saying Michael Gove “thoroughly confused” on embodied carbon