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BANISTER INC. REPORTS RESULTS

 TORONTO, March 11 /PRNewswire/ -- Banister Inc. (AMEX: BAN) today reported, for the three months ended Dec. 31, 1992, a net after tax profit of $3,230,000 (pre-tax $6,609,000) or 54 cents per share on revenue of $88,278,000. This compares with a net after tax profit of $6,510,000 (pre-tax $6,085,000) or $1.09 per share on revenues of $102,635,000 for the same period in 1991.
 For the year ended Dec. 31, 1992, a net after tax profit of $7,174,000 (pre-tax $10,664,000) or $1.21 per share was reported on revenues of $347,873,000. This compared with a net after tax profit of $6,648,000 (pre-tax $6,351,000) or $1.12 per share on revenues of $421,535,000 for fiscal 1991.
 The corporation's increased earnings follow from continually improving operating results and management of overheads consistent with available volumes of work.
 At Dec. 31, 1992 the Corporation recorded a work backlog of $230,928,000 ($138,034,000 at Dec. 31, 1991). The corporation's operating divisions are currently involved with projects across Canada and internationally in the United States, China, Romania and the Caribbean.
 Banister Inc. is a Canadian based construction firm specializing in building, civil, industrial, pipeline and utility construction.
 -0- 3/11/93
 /CONTACT: E.R. Austin, president and chief executive officer; or C.N. D'Croix, vice president and chief financial officer, 416-754-8735, of Banister Inc./
 (BAN)


CO: Banister Inc. ST: Ontario IN: CST SU: ERN

SH -- NY064 -- 5166 03/11/93 14:25 EST
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Publication:PR Newswire
Date:Mar 11, 1993
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