June 6, 2012 / 9:44 PM / 6 years ago

UPDATE 1-North American Energy posts narrower loss

June 6 (Reuters) - Canadian mining services company North American Energy Partners Inc reported a narrower quarterly loss as its piling segment benefited from robust demand due to recovery in commercial and industrial construction markets.

Net loss fell to C$16.9 million, or 47 Canadian cents per share, for the fourth quarter from C$30.5 million, or 84 Canadian cents per share, a year ago.

January-March revenue at North American Energy, which provides mining and pipeline installation services to oil sands operators, soared 62 percent to C$282.5 million.

Revenue from the company’s piling segment more than doubled to C$52.9 million on a rise in commercial and industrial construction demand and favorable winter weather conditions.

North American Energy shares, which have lost 43 percent value in the last three months, closed at C$2.82 on the Toronto Stock Exchange on Wednesday.

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