Aecon Group reports strong growth in Q2 revenue, profit, backlog

Aecon Group reports strong growth in Q2 revenue, profit, backlog
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TORONTO — Aecon Group Inc. says it had a strong second quarter, with higher revenue, profit and project backlogs compared with the same time last year.

The Toronto-based construction company had a $20.4-million net profit, worth 31 cents per diluted share for quarter ended June 30.

That’s up from a profit of $8.4 million, or 13 cents per diluted share, a year earlier and ahead of estimates.

Revenue was $867.3 million, up from $754.8 million and also ahead of estimates.

Reported backlog at June 30 was worth $6.76 billion, up from $6.44 billion a year earlier.

Analysts had estimated 22 cents per share of net income with about $770 million of revenue, according to financial markets data firm Refinitiv.

Companies in this story: (TSX:ARE)

The Canadian Press

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