CALGARY – Newalta Corp. (TSX:NAL) reports a sharp increase in third quarter net revenue to $11.8 million, or 24 cents per share.
The Calgary-based company reported net earnings of $5.8 million, or 12 cents per share, in the same period a year ago.
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In addition to a 101 per cent gain in net earnings, the company also reports a 25 per cent increase in revenue to $182 million.
The company largely credits the increases to improved market conditions, higher commodity prices and strong market demand.
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In August, Newalta was awarded a $60 million contract from Syncrude Canada Ltd. to process oil sands mature fine tailings.
Newalta helps customers recycle and recover products from industrial residues through a network of more than 80 facilities across Canada.
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