Stock Profile: ADF Group
Symbol: DRX (TSE)
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 Stats as of 8/10/01
• H/L Ratio: 1.77
• RS: 80.47
• Shares: 154,471,685
• P/E: 9.95
• Price: $12.44
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Founded as a blacksmith shop specializing in complex forged iron works in 1956, ADF Group has since grown to become an international player in the structural steel business. ADF stands for Au Dragon Forgé, literally "forged by a dragon". The company was incorporated in 1979 and went public in 1999. In 1992, the company launched a branch office in Florida to offset the seasonality of business in Canada.

The company specializes in large-scale structural steel for mega-projects including high rise office towers, bridges, airports, convention centers, museums, and hydro-electric projects. It uses state-of-the-art technology to design, manufacture and implement its solutions.

Previous projects have included: a convention center in San Antonio, Texas; the Florida Panthers Arena; airport expansion projects in Miami and Tampa, Florida; a project for NASA at Cape Canaveral; the National Archives of Canada at Hull, Quebec; the Laviolette Bridge in Trois Riveres, Quebec; and an assembly plant for General Motors in Ste. Therese, Quebec.

Recent and current projects include: a 45 story office tower for Bear Stearns in New York, the 55 story Columbus Center in New York for AOL Time Warner; the Detroit Lions Stadium; the Memphis, Tennessee convention center; the Baltimore Ravens football stadium; a convention center in Pittsburgh; the Pearson airport expansion in Toronto; highway projects in New York and Virginia; and airport expansion projects in Boston and Chicago.

The company has recently expanded beyond Canada and the U.S. and is also working on a maintenance hangar for Air Algeria, a casino in the Bahamas and industrial complexes in the Sudan and Madagascar.

ADF Group aims to have 55% of its business in the U.S. and a further 20% international within five years. Its year to year earnings and revenue growth have been superb, as has its recent performance.

Quarterly Earnings per Share

  2000 2001 % Change
To April 30th $0.22 $0.32 45.5%
Revenues (000s) $62,500 $112,600 80.2%

Annual Earnings per Share (in US$)

to Dec. 31st 1999 2000 % Change 2001 % Change
EPS $0.56 $0.73 30.4% $1.12 53.4%
Revenues (000s) $108,900 $218,203 100.4% $334,385 53.2%