Aecon Group notches record revenues and contract bookings in 2018

MONTREAL — Aecon Group Inc. says it notched record annual revenues in 2018, allowing it to raise its quarterly dividend by two cents per share to 14.5 cents.

The construction firm logged a 16 per cent year-over-year increase in revenues to $3.27 billion last year, up from $2.81 billion in 2017. For the quarter ended Dec. 31, it says revenues rose 38 per cent to $948.5 million compared with the same period in 2017.

article continues below

The Toronto-based company says net profits jumped 32 per cent to $27.9 million last quarter, from $21.1 million with a year earlier.

That equalled 41 cents per diluted share, up from 33 cents per share in the previous year's quarter.

Aecon says it booked new contracts worth $5.8 billion in 2018, a record and a substantial increase from the $2.8 billion in contracts recorded in 2017.

Analyst Derek Spronck of RBC Dominion Securities says the firm benefited from new projects and milder winter weather last quarter.

Companies in this story: (TSX:ARE)

Note to readers: This is a corrected story. An earlier version described Aecon as an engineering firm.

© Copyright Alaska Highway News
Sign Up for our Newsletter!

Popular News

Lowest Gas Prices in Chetwynd, Dawson Creek, Fort Nelson, Fort St John, Tumbler Ridge
British Columbia Gas Prices provided by GasBuddy.com

Community Event Calendar


Find out what's happening in your community and submit your own local events.