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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Bird Construction Inc | TSX:BDT | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.13 | 0.69% | 19.06 | 18.94 | 19.16 | 19.15 | 18.67 | 18.87 | 69,473 | 21:12:05 |
LISTING: TORONTO STOCK EXCHANGE
SYMBOL: BDT
MISSISSAUGA, ON, Aug. 9, 2017 /CNW/ -
HIGHLIGHTS:
"The Company successfully completed and turned over three PPP projects this quarter, demonstrating our ability to execute complex work across the country. In the quarter, the Company also made its first significant equity investments, furthering our strategy in this important market", commented Mr. Ian Boyd, President & CEO of Bird Construction. "With the activity in the PPP market increasing and our early success with three key wins to date in 2017, the Company is well-positioned to secure additional social infrastructure projects as well as transportation and environmental related projects, broadening our scope of expertise and advancing our diversification efforts. In addition to the growth in volume we expect from these opportunities, we also see an emerging environment that should support improved margins on this work. In combination, we expect these factors to support recovery in our earnings toward more satisfactory levels going forward."
Financial Results |
||||||||||||||
(in thousands of Canadian dollars, except per share amounts) |
||||||||||||||
Three months ended |
Six months ended | |||||||||||||
June 30, |
June 30, | |||||||||||||
2017 |
2016 |
2017 |
2016 | |||||||||||
Construction Revenue |
$ |
345,881 |
$ |
413,195 |
$ |
655,636 |
$ |
751,489 | ||||||
Net income and comprehensive income |
$ |
2,497 |
$ |
3,886 |
$ |
1,356 |
$ |
13,229 | ||||||
Basic and diluted earnings per share |
$ |
0.06 |
$ |
0.09 |
$ |
0.03 |
$ |
0.31 | ||||||
Cash flows from operations before changes in |
$ |
5,181 |
$ |
8,558 |
$ |
7,251 |
$ |
23,566 |
Bird Construction Inc. also announced that its Board of Directors has approved monthly eligible dividends for the months of August, September and October 2017 in the amount of $0.0325 per common share to be paid as follows:
i) |
The August dividend of $0.0325 per share will be paid on September 20, 2017, to the shareholders of record as of the close of business on August 31, 2017. |
ii) |
The September dividend of $0.0325 per share will be paid on October 20, 2017, to the shareholders of record as of the close of business on September 29, 2017. |
iii) |
The October dividend of $0.0325 per share will be paid on November 20, 2017, to the shareholders of record as of the close of business on October 31, 2017. |
A conference call for analysts and investors will be held at 10:00AM EDT on Thursday, August 10, 2017, to discuss the quarterly results. The dial in number is 1-855-328-1925. Attendees are asked to be on the line 10 minutes prior to the start of the call.
This press release contains forward-looking statements that involve a number of risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Many factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Bird Construction Inc.
Copyright 2017 Canada NewsWire
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