Shawcor Ltd. reported a $23-million profit in its latest quarter compared with a loss a year ago as its revenue rose about 15 per cent.

Shawcor chief executive Mike Reeves says strong execution resulted in robust sequential and year-over-year growth in revenue, gross profit, operating cash flow and backlog.

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The energy and infrastructure technology company says its profit amounted to 33 cents per diluted share for the quarter ended Sept. 30.

The result compared with a loss of $8.3 million or 12 cents per share in the same quarter last year.

Revenue for what was the company's third quarter totalled $335.0 million, up from $291.4 million in the third quarter of 2021.

In September, Shawcor announced a plan to change its name to Mattr and launched a strategic review that could result in the sale of its pipeline and oilfield asset management divisions.