Aecon profit more than doubles on lower costs
(Reuters) - Canadian construction company Aecon Group Inc's (ARE.TO: Quote) quarterly profit more than doubled as costs fell.
Net income rose to C$5.4 million, or 9 Canadian cents per share, in the second quarter, from C$2.3 million, or 1 Canadian cent per share a year earlier.
Revenue fell 13 percent to C$661.7 million.
Direct costs and expenses fell 15 percent to C$599.3 million.
Aecon's shares, which have risen 24 percent so far in 2012, closed at C$12.88 on Monday on the Toronto Stock Exchange.
(Reporting by Ankur Banerjee in Bangalore; Editing by Supriya Kurane)
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