May 4, 2010 / 11:42 PM / 7 years ago

UPDATE 1-Aecon Group loss narrower than expected

* Q1 loss 12 Cdn cts/shr vs view 13.2 Cdn cts/shr

* Q1 revenues up 24.9 pct to C$426 mln

* Backlog of work on hand C$2.1 bln

NEW YORK, May 4 (Reuters) - Aecon Group Inc (ARE.TO) reported on Tuesday a smaller-than-expected first-quarter loss as the construction company benefited from a strong jump in revenues.

Canada’s biggest publicly traded construction company said its net loss grew to C$6.6 million, or 12 Canadian cents a share, in the quarter ended March 31. That compared with a loss of C$600,000, or 1 Canadian cent a share, in the same period last year.

Revenue increased 24.9 percent to C$426 million.

Analysts had expected, on average, a loss of 13.2 Canadian cents a share, according to Thomson Reuters I/B/E/S.

The Toronto-based builder said it closed the quarter with a record backlog of C$2.1 billion worth of work on hand, up from C$1.4 billion at the same time last year.

Shares of Aecon closed down 2.58 percent at C$12.10 on the Toronto Stock Exchange on Tuesday. The results were released after the market closed.

($1 = $1.02 Canadian)

Reporting by Nicole Mordant in Vancouver and Phil Wahba in New York; Editing by Richard Chang

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