Saturday Globe and MailADF a Star stock
Words that come to mind when you think about steel: hard, strong, sturdy. Words that come to mind when investors think about steel fabricator ADF Group Inc.: cash, dough, profits. Shares of the Quebec company – which makes steel structures used in bridges, airports and commercial buildings – hit a record high after ADF posted revenue of $331-million for the fiscal year ended Jan. 31, up 32 per cent from a year earlier. Net income of $37.6-million soared 152 per cent, the company said, citing higher fabrication volumes and greater efficiencies thanks to investments in robotization and automation. With the shares rising fivefold in the past 12 months, buying the stock a year ago was an absolute steel.