May 10, 2012 / 7:14 PM / in 6 years

UPDATE 1-Stantec profit rises on organic revenue growth

May 10 (Reuters) - Canadian engineering company Stantec Inc posted a 5 percent increase in first-quarter profit, helped by organic revenue growth and acquisitions completed in 2011.

January-March net income was C$24.9 million, or 55 Canadian cents per share, compared with C$23.8 million, or 52 Canadian cents per share, a year earlier.

Gross revenue rose 7 percent to C$439.1 million, helped by increased activity in the mining and oil and gas sectors.

In Canada, Stantec completed the acquisition of QuadraTec Inc, Caltech Group and FSC Architects and Engineers in 2011, which also helped boost gross revenue for the quarter.

Shares of the company, which has a market value of $1.36 billion, were trading flat at C$29.88 on Thursday on the Toronto Stock Exchange.

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