May 9, 2008
Aecon reports first-quarter profit of $276,000
TORONTO
Aecon Group Inc. has reported a first-quarter profit of $276,000 compared with a loss of $3 million in the same quarter a year ago.
The engineering firm said the profit amounted to a penny per share on $302 million in revenue. That compared with a loss of eight cents per share on $242 million in revenue a year ago.
Aecon said the 25 per cent increase in revenue was due to increases in its buildings, industrial and concessions segments.
Infrastructure revenues were unchanged compared with the first quarter of 2007.
The company’s backlog at March 31 was $1.231 billion, up 47 per cent from a year ago.
“Aecon’s first quarter results represent a continuation of the upward momentum achieved over the past two years,” chairman and chief executive John Beck said in a statement.
Canadian Press
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