SNC-Lavalin earnings jump, raises 2014 outlook

Thu May 8, 2014 8:45am EDT
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TORONTO May 8 (Reuters) - SNC-Lavalin Group Inc, Canada's largest engineering and construction firm, reported sharply higher earnings on Thursday, as it reversed a previously recorded risk provision, and raised its 2014 outlook following the sale of its AltaLink asset.

Net income for the first quarter ended March 31 was C$94.7 million ($86.86 million), or 62 Canadian cents, significantly higher than the C$53.7 million, or 35 Canadian cents, it earned during the same period one year ago.

($1 = 1.0903 Canadian Dollars) (Reporting by Solarina Ho, Editing by Franklin Paul)