UPDATE 3-SNC Lavalin shares down as results, outlook fall short

Fri Mar 8, 2013 5:52pm EST
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* Net income, excluding ICI, down 33 pct; below consensus

* Expects 2013 growth of 10-15 pct

* Reports EPS of C$0.63 vs C$0.50; consensus of C$0.90

* Raises dividend by 4.5 pct to C$0.23

* Shares fall as much as 8 pct

By Solarina Ho

March 8 (Reuters) - Canada's SNC Lavalin Group Inc reported a 24 percent rise in fourth-quarter profit on Friday, but its shares fell as much as 8 percent after the earnings and its 2013 outlook fell short of analysts' expectations.

Excluding SNC-Lavalin Capital, the construction and engineering company's investment and financing arm, profit fell 33 percent, with earnings per share far below analysts' expectations.

SNC, one of the world's largest engineering companies, expects net income to rise between 10 percent and 15 percent this year compared with last year.   Continued...