MONTREAL - Engineering firm WSP Global says its profits surged 19 per cent to $17.3 million in its latest quarter on higher revenues.
The Montreal-based company says its net earnings attributable to shareholders were 33 cents per share for the period ended March 29, in line with analysts' estimates.
That compared to 28 cents per share or $14.5 million a year earlier.
Revenues were $511.1 million, up 6.8 per cent from $478.7 million year-over-year.
WSP Global (
TSX:T.WSP,
Stock Forum) said its backlog hit a record $1.72 billion, representing about 10 months of revenue, up 15 per cent from the fourth quarter.
Chief executive Pierre Shoiry said the company's performance and recent acquisitions put it on the path to achieve its objective of having $2.3 billion of annual revenues by the end of 2015.
WSP Group recently announced its expanding its reach in Western Canada's oil and gas sector with the acquisition of Focus Group Holding Inc., a 1,700-employee Alberta engineering and geomatics firm, for $366 million.