Stantec announces 14% growth in 2015 year-end results

Stantec (Edmonton, Alberta) announced solid growth and a strong balance sheet in 2015 with gross revenue increasing 13.7% to C$2,877.2 million. According to its Q4 and year-end report, the company strengthened its North American presence by completing six strategic acquisitions last year. The firm’s diversified business model yielded strong organic gross revenue growth in both the Infrastructure and Buildings business operating units (65% of business), Stantec stated. This growth partly offset a retraction in the Energy & Resources business operating unit due to declining commodity prices, especially in the oil and gas industry. The oil and gas sector represented approximately 25% of gross revenue in 2014 and 15% in 2015: Stantec remains committed to serving its oil and gas clients, but its exposure to further potential declines is reduced, the company said.