Aecon reports record-high work backlog of $6.4B at end of Q2

Aecon Group Inc. signage is displayed on a truck parked at a construction site in Toronto, Ontario, Canada, on Monday, Feb. 26, 2018. Prime Minister Justin Trudeau's government has launched a full national security review of a takeover bid by China Communications Construction Co. for Aecon Group Inc., a Canadian construction company. , Cole Burston/Bloomberg

The Canadian Press

Jul 26, 2018

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TORONTO - Aecon Group Inc. (ARE.TO) says it's recorded a record high work backlog of $6.4 billion at the end of its second quarter.

The engineering firm says the backlog is $2 billion higher than at the end of the same quarter the previous year.

Aecon says it booked $2.6 billion in new contracts during the quarter ended June 30, compared to $687 million for the second quarter of 2017.

It reported a $12.8 million operating profit or diluted earnings per share of 13 cents, up from $5.3 million or a penny per share during the previous year's quarter.

Interim CEO John M. Beck says in a statement that the results show the alignment of the company's strengths with unprecedented market opportunity in the country.

Aecon recently announced it appointed Jean-Louis Servranckx as its president and CEO effective Sept. 4.