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SNC-Lavalin profits jump 24% to US$128mn (Regional)

Canadian engineering and construction firm SNC-Lavalin (TSX: SNC) posted consolidated net income of Cdn$128mn (US$128mn) in Q3, up 24.3% from Cdn$103mn in 3Q09.


The growth in net income reflected higher operating income from the infrastructure, power and environment segments as well as infrastructure concession investments, the company said in a press release.


Revenues in the quarter increased 13% to Cdn$1.61bn from Cdn$1.42bn in the prior-year period.


The company's backlog for services, packages, operations and maintenance, and infrastructure concessions investments at end-Q3 was Cdn$12.7bn, up from Cdn$11.4bn in Q2 and Cdn$10.8bn at end-2009.


In Latin America and the Caribbean, SNC-Lavalin has mining, power, waterworks and transport infrastructure projects, with offices in Brazil, Chile, Colombia, the Dominican Republic, Haiti, Honduras, Panama, Peru and Venezuela.



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