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BANISTER REPORTS FINANCIAL RESULTS

 BANISTER REPORTS FINANCIAL RESULTS
 TORONTO, Nov. 5 /PRNewswire/ -- Banister Inc. (AMEX: BAN) today


reported a net profit of $4,662,000 or 78 cents per share on revenues of $133,053,000 for the three months ended Sept. 30, 1991. This compares with a net profit of $1,704,000 or 29 cents per share on revenues of $189,616,000 for the same period last year.
 For the nine months ended Sept. 30, 1991, a net profit of $138,000 or 2 cents per share was reported on revenues of $318.9 million compared with a net loss of $5,828,000 or 98 cents per share on revenues of $516,943,000 for the same period in 1990.
 The reported profit resulted from an overall improvement in operations and decreased overheads.
 The decrease in revenue resulted from recession reduced construction activity and a more selective and conservative tendering program. Banister Inc. entered the fourth quarter of fiscal 1991 with a backlog of work totalling $195,866,000.
 Banister Inc. is a Canadian-based construction firm specializing in civil, utility, building, pipeline and industrial construction.
 -0- 11/5/91
 /CONTACT: J.R. McCaig, chairman, 403-298-5122, or E.R. Austin, president, 416-754-8735, both of Banister/
 (BAN) CO: Banister Inc. ST: Ontario IN: CST SU: ERN CK -- NY087 -- 1450 11/05/91 17:57 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 5, 1991
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