August 7, 2009 / 3:02 PM / 8 years ago

UPDATE 1-SNC-Lavalin profit up on power, infrastructure

* Q2 EPS C$0.53 vs C$0.49 year earlier

* Revenue drops 13.6 percent to C$1.47 bln

* Backlog increases to C$9.9 bln

* Shares rise 5 Canadian cents to C$45.95 (Adds details)

OTTAWA, Aug 7 (Reuters) - SNC-Lavalin Group Inc (SNC.TO) reported a 6 percent increase in quarterly profit on Thursday, as bigger contributions from its power and infrastructure/environment units more than offset a loss in its chemical and petroleum business.

The Canadian engineering and construction company said net earnings rose to C$80 million ($74 million), or 53 Canadian cents a share, in the three months ended June 30, from C$75.4 million, or 49 Canadian cents a share, in the year-before quarter.

Revenue declined 13.6 percent to C$1.47 billion from C$1.7 billion.

“We achieved good results in the second quarter of 2009 despite a disappointing performance in the chemicals and petroleum segment,” Chief Executive Pierre Duhaime said in a statement.

The Montreal-based company said its backlog of business at the end of June was C$9.9 billion, up from C$9 billion at the end of March.

The company affirmed its 2009 forecast for profit growth of 7 percent to 12 percent.

It had C$635.6 million in cash at the end of the quarter, down from C$988.2 million at Dec. 31, 2008, due to working capital on major projects, the acquisition of property and equipment and concession investment payments.

Shares in the company rose 5 Canadian cents to C$45.95 on the Toronto Stock Exchange after the results were released on Thursday.

$1=$1.08 Canadian Reporting by Susan Taylor; editing by Peter Galloway

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