Libya situation hits SNC-Lavalin: CEO

Quebec-based engineering company SNC-Lavalin Group reported its second quarter earnings fell to $100.7 million, or 66 cents per share.

CEO Pierre Duhaime tells BNN the infrastructure and environment segment was behind the earnings drop. “The Libya situation had removed from our backlog earlier this year quite a big chunk of the business, and that was mostly in infrastructure projects,” he says.

“Of course we are expecting to go back and continue on the project,” he says. “Certainly we would like to do it as soon as possible, but the situation needs to calm down and the safety of the people has to be back before we return to Libya.”