Steel fabricator ADF Group doubles revenues for 2013
Post Date: 12 Apr 2014 Viewed: 277
The Quebec-based fabricator of steel structures for the construction industry says it earned 23 cents per diluted share for the 2013-14 fiscal year. That compared to a five cents per share or $1.55 million loss in fiscal 2012-13.
ADF’s annual revenues increased to $93 million, up from $41.4 million in a year before, and its order backlog stood at $36 million.
The company, which didn’t immediately provide fourth-quarter results, attributed the increases to contracts signed in Western Canada and Quebec.
The company says improving market conditions have increased the number and size of tenders, but prices remain weak.
Fabrication hours at its plant in Terrebonne, Que., increased by more than 20 per cent last year. It is building a new facility in Montana to target markets in the Midwestern U.S. and Western Canada.
ADF Group designs and engineers complex steel structures and heavy steel built-ups, as well as in architectural metals for non-residential construction.