Terrebonne, Quebec-based ADF Group Inc., a structural steel fabricator, Thursday reported upticks in orders and bidding activity for much of North America after a year marked by declines in revenue and profit.
The company reported that it had an order backlog of $116 million, a 17 percent increase than levels seen a year ago, and is currently in the negotiation stage for $250 million worth of additional contracts.
However, revenue for the 2010 financial year was $65.7 million, a decrease from 2009 financial year revenue of $98.9 million.
Jean Paschini, Chairman of the Board and CEO, qualified the financial performance achieved in 2009-2010 as satisfactory, considering the challenging economic conditions the industry had to deal with in recent quarters. "We addressed the challenges of the global economic crisis with efficiency and discipline, as a result of which ADF maintained healthy profit margins and ended the year in an excellent financial position," Mr. Paschini said. "We further invested in the quality of our labor force and production infrastructures in order to enhance our technological advance and competitive edge."
Mr. Paschini also explained how he positioned the company in another specialized market niche-the construction and refurbishment of nuclear power plants - thereby providing ADF with an additional potential source of growth over the medium term.
"Beginning in fiscal 2011, we intend to lay the foundations for ADF Group's next growth phase, as we will focus on the following key development objectives," Mr. Paschini added, including objectives such as increasing the company's market share in existing specialized niches and geographic territories; establishing the company's presence in a new specialized niche (nuclear infrastructures); and expanding the company's geographical footprint by seeking opportunities for partnerships, strategic alliances or acquisitions in line with the corporate strategic vision.