March 9, 2011 / 3:10 AM / 7 years ago

Aecon quarterly profit falls

NEW YORK, March 8 (Reuters) - Aecon Group Inc’s fourth-quarter quarterly earnings fell, as higher taxes partially offset increased revenue for Canada’s biggest listed construction company.

Aecon on Tuesday reported a quarterly net profit of C$8.9 million, or 16 Canadian cents a share, from a profit of C$15.4 million, or 26 Canadian cents per share, in the year-earlier period.

Revenue rose almost 40 percent to C$838 million, bolstered by the company’s infrastructure segment — which includes civil construction from highways, bridges and tunnels. The segment’s revenue jumped 54 percent to C$387 million.

But revenue from Aecon’s Buildings segment — which includes commercial, institutional and multi-unit residential buildings — was little changed at C$136 million in the period. ($1=$0.XX Canadian) (Reporting by Nicole Mordant and Ransdell Pierson; Editing by Dhara Ranasinghe)

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