Company Updates – Stantec, IRC, Tecsult, Trow
February 27, 2008
By Canadian Consulting Engineer
Stantec, one of the largest consulting engineering companies in Canada, reported a 17% increase in gross revenues f...
Stantec, one of the largest consulting engineering companies in Canada, reported a 17% increase in gross revenues for 2007 compared to the previous year. Gross revenue in 2007 was Cdn. $954.6 million, compared to $816.1 million in 2006.
Net revenue was $830.9 million, up 17.4% compared to $707.9 million in 2006, and net income increased 15.1% to $69.3 million from $60.2 million.
Diluted earnings per share were 14.5% higher in 2007 at $1.50 compared to $1.31 in 2006.
The publicly traded company reported that it had added 11 companies in 2007, firms ranging from 10 employees to 650 employees, from provinces across Canada and in the U.S.
Stantec’s annual meeting of shareholders will be held on May 1 in Edmonton.
IRC Building Sciences Group of Mississauga, Ontario has acquired McCavour Engineering Limited, a 50-year old structural engineering company also based in Mississauga. It has 17 employees. The McCavour expertise complements IRC’s expertise in the building envelope and roofing. The new division is known as IRC McCavour Engineering Group. With offices across Canada, IRC has about 100 employees.
Hard on the heels of its becoming part of AECOM in February, Tecsult acquired three engineering companies. One is GEMEC Inc., a consulting engineering firm based in Ville Saint Laurent in Quebec. Gemec specializes in electrical, mechanical, building structure and civil engineering. The firm was founded in 1985 and employs about 30 people.Tecsult has also acquired a controlling interest in the Peruvian firm PEPSA Proyectos Especiales Pacifico S.A. The multi-disciplinary company specializes in power generation, transmission and distribution, and water resources. It has around 60 employees.Third, Tecsult acquired Alliance Environnement, a consulting firm specializing in environmental evaluation and land-use planning company in Trois-Rivires. It employs about 50 people.Consulting engineering company Trow has requalified as one of Canada’s 50 Best Managed Companies award for 2007. This is the fifth time the company has been in the rankings for the 50 Best Managed companies, a program sponsored by CIBC, Queen’s School of Business, the National Post and others.