November 9, 2009
Aecon Group reports lower Q3 profits despite higher earnings
Aecon Group Inc. reported this week a third-quarter profit of $19.6 million, down slightly from a year ago, as revenue grew due to acquisitions.
Revenue totalled $707 million, up from $535 million, due to the recent acquisitions of Alberta companies Lockerbie and Hole and South Rock.
Aecon’s backlog at the end of the quarter totaled $1.92 billion, up from $1.5 billion a year ago.
“Aecon’s outlook remains positive,” chairman and chief executive John Beck said. “Our record backlog and the relative durability of our infrastructure and buildings markets bode well for continued strong financial performance into 2011.”
-DCN News Services
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