May 4, 2017
SNC Lavalin posts 27% drop in Q1 profit
, Reuters
SNC-Lavalin Group Inc (SNC.TO) on Thursday reported a 26.5 per cent decline in quarterly profit, hurt in part by weak demand in its core engineering and construction business.
The company said net income attributable to shareholders fell to $89.7 million, or 60 cents per share, in the first quarter ended March 31, from $122.1 million, or 81 cents per share, a year earlier.
The prior-year quarter included a gain of $51.1 million on capital investments disposals.
Montreal-based SNC's revenue fell seven per cent to $1.85 billion.
