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Canada's SNC-Lavalin posts 27 percent drop in 1st-qtr profit
May 4, 2017 / 12:11 PM / 7 months ago

Canada's SNC-Lavalin posts 27 percent drop in 1st-qtr profit

May 4 (Reuters) - Canada’s SNC-Lavalin Group Inc on Thursday reported a 26.5 percent 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 C$89.7 million ($65.4 million), or 60 Canadian cents per share, in the first quarter ended March 31, from C$122.1 million, or 81 Canadian cents per share, a year earlier.

The prior-year quarter included a gain of C$51.1 million on capital investments disposals.

Montreal-based SNC’s revenue fell 7 percent to C$1.85 billion. ($1 = 1.3722 Canadian dollars) (Reporting by John Benny in Bengaluru; Editing by Sai Sachin Ravikumar)

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