Tuesday, September 21, 2021
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SNC-Lavalin swings to $29.1 million profit in Q2 on eight per cent revenue increase


MONTREAL – SNC-Lavalin Group Inc. swung to a revenue in its newest quarter on an eight per cent enhance in revenues.

The Montreal-based engineering agency says its internet revenue attributable to shareholders from persevering with operations was $29.2 million or 17 cents per diluted share.

That’s up from a lack of $25.3 million or 14 cents per share a yr earlier.

Adjusted revenue from skilled companies and undertaking administration was $53.8 million or 31 cents per share, up from $21.7 million or 12 cents per share within the second quarter of 2020.

Revenues for the three months ended June 30 had been practically $1.8 billion, in contrast with $1.66 billion within the prior yr quarter.

SNC-Lavalin was anticipated to earn 37 cents per share in adjusted income and 15 cents per share in internet income on $1.78 billion of revenues, in response to monetary information agency Refinitiv.

“SNCL engineering companies delivered sturdy second quarter efficiency led by sturdy profitability inside our three segments,” CEO Ian Edwards mentioned, including that its backlog of troubled legacy lump-sum turnkey contracts continues to lower.

“We’re additionally happy to have just lately closed the sale of a considerable portion of our assets oil and gasoline enterprise, which represents an essential strategic milestone for the corporate.”

This report by The Canadian Press was first printed July 30, 2021.

Corporations on this story: (TSX:SNC)



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