Entrec revenue up 7% in Q2
By Laura Hatton04 September 2014
Heavy lift and hauling service provider Entrec Corporation reported a 7 % rise in revenue from US$49.31 million to $52.92 million in its second quarter results. The revenue growth reflects business acquisitions made by Entrec in the preceding 12 months.
On the expansion of Entrec into Prince Rupert, John Stevens, Entrec president and chief executive, said, “We expect utilisation levels for our crawler and rough terrain cranes will increase over the next six months as project work begins to ramp up.
“Our growing crane fleet has also helped us establish a stronger presence in the market for long-term MRO contract work in the Alberta oilsands region. MRO work now represents approximately 20 per cent of our total revenue.”
For the rest of 2014, Entrec forecast continued activity in northeast British Columbia and northwest Alberta in LNG-related gas projects. Entrec’s 2014 growth capital expenditures are focused on growing its crane fleet, the report said.