GENIVAR announces positive results
August 12, 2013
By
Canadian Consulting Engineer
GENIVAR, based in Montreal, reported its financial and operating results for the first six months of this year on August 8.
GENIVAR, based in Montreal, reported its financial and operating results for the first six months of this year on August 8.
Total revenues for the half-year were $995.1 million compared to $344.9 million in 2012. This represents an increase of 188.5%. For the same period, net revenues were $833.5 million, providing a 190.6% increase compared to 2012. Net earnings were $31.1 million or $0.60 per share, as compared to $7.1 million or $0.22 per share in 2012.
The company said its revenue growth was due to the acquisition of WSP, a large U.K.-based company.
Pierre Shoiry, president and chief executive officer of GENIVAR, said: “We have just reached the first year milestone as a combined company and are happy with our second quarter and year-to-date results, which are in-line with our expectations and 2013 guidance.”
The company, through its combination with WSP, has approximately 15,000 employees in more than 300 offices, across 35 countries. www.genivar.com
