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
| MOST POPULAR STORIES |
- Government should be more flexible with stimulus project deadline, outgoing ORBA president says
- Prime site moves from contamination to condo in Cambridge, Ontario
- Mine tower largest steel project ever undertaken by Gorf Contracting
- Concrete from Giants Stadium demolition to be buried on site
- McGuinty: We can’t take our foot off ‘public dollar gas pedal’ too quickly
- 20 Most Popular Stories
| TODAY’S TOP CONSTRUCTION PROJECTS |
These projects have been selected from 350 projects with a total value of $6,260,468,758 that Reed Construction Data Building Reports reported on yesterday.
$98,000,000 Toronto ON Negotiated
CONDOMINIUM APARTMENT BUILDING
$89,000,000 Toronto ON Negotiated
$50,000,000 Toronto ON Negotiated
| CURRENT STORIES |
- Work continues on Pearl Condos in Toronto
- ‘A good first step forward,’ Canadian construction industry says of U.S. stimulus agreement
- Government should be more flexible with stimulus project deadline, outgoing ORBA president says
- Steel provides structure for historic hotel revival in Port Hope, Ontario
- Ontario businesses scramble to ready for arrival of HST
- Construction continues on Atira Women’s Resource Society housing project in Vancouver
- Five still unaccounted for after Connecticut power plant explosion
- U.S. manufacturing employment up, but construction losses continue
- Peterborough Utilities unveils plan for 10-megawatt wind farm
- China orders local governments to pay workers on private sites
- New deal allows Canadian construction firms to bid on U.S. stimulus projects
- Construction continues on Canadian Natural Resource office in St. Albert, Alberta
- Canadian Construction Association summit zeroes in on industry concerns
- Art Gallery of Alberta addition showcases steel
- 5,000-room modular lodging project taking shape near Fort McMurray, Alberta
- Five-year forecast looking up for British Columbia construction industry
- Saskatchewan gets new natural gas trades training centre
- B.C. permit numbers rise while Alberta’s fall
- Trades lack LEED understanding
- Nexen, OPTI Canada get approval for cogeneration power plant near Fort McMurray
- Aecon wins $22 million in contracts for steam generators
- SNC-Lavalin partners with Russian bank to form engineering company
| ALEX’S ECONOMICS BLOG |
Reed Construction Data Chief Economist Alex Carrick discusses current developments in the North American economic environment with emphasis on the construction industry.
- A review of some global economic and policy expectations for 2010 (February 3, 2010)
- Synopsis of RCD’s webinar on the economic and construction outlooks (January 28, 2010)
- Increasing signs of world and U.S. economies getting back on track (January 28, 2010)
- More
