Monday, December 9, 2013

Aecon Group Inc. - ARE.t

Aecon Group Inc. - ARE.t is a Canadian leader in construction and infrastructure development providing integrated turnkey services to private and public sector clients.

The company is an industry leader in some of the country's strongest growth sectors – transportation, resources, power, as well as social, manufacturing and urban infrastructure.

On December 2, 2013 the company reported News

Aecon Group Inc. (“Aecon” or the “Company”) (TSX: ARE) today announced that it has successfully closed the issuance of an additional $22.5 million aggregate principal amount of 5.50% convertible unsecured subordinated debentures due December 31, 2018 (the “Debentures”) pursuant to the full exercise of the over-allotment option granted to the syndicate of underwriters led by TD Securities Inc. and GMP Securities L.P. in connection with the Company’s recent public offering of $150 million aggregate principal amount of Debentures that closed on November 27, 2013, bringing the total aggregate gross proceeds from the offering to $172.5 million.

On October 13, 2013 the company reported Q2 Numbers

"Aecon Group Inc. (TSX: ARE) today reported results for the second quarter of 2013, including higher EBITDA for the second quarter of $36.7 million, with a margin of 5.3 per cent, as compared to $25.8 million, with a margin of 4.0 per cent, for the prior year period. “Aecon generated strong results in the second quarter of 2013 and our outlook for the second half of this year is positive,” said John M. Beck, Chairman and Chief Executive Officer. “We expect to continue making progress in improved margins working toward our EBITDA margin target of 9 per cent in 2015. We have experienced continued strength in recurring revenue, and there is robust bidding activity within our three strategic market sectors.”