October 31, 2008 / 12:01 PM / 10 years ago

UPDATE 1-SNC Lavalin profit rises with operating income

TORONTO, Oct 31 (Reuters) - Canadian engineering and construction company SNC-Lavalin Group Inc (SNC.TO) reported a higher third-quarter profit on Friday, as strong performances of its mining and metallurgy, and infrastructure and environment segments made up for a dip in revenue.

SNC said net income was C$91.3 million ($74.8 million), or 60 Canadian cents a share, up from C$63.2 million, or 41 Canadian cents a share, in the same period the year before.

The Montreal-based company said revenue fell to C$1.69 billion from C$1.79 billion in the year-before quarter.

Analysts, on average, had expected a profit of 50 Canadian cents a share before exceptions, according to Reuters Estimates.

SNC had a backlog of orders worth C$9.7 billion at the end of September, compared with C$9.8 billion at the end of quarter in the prior year.

“The current global financial crisis brings uncertainties to our business,” said Jacques Lamarre, president and chief executive of SNC. “Given the many different sectors and countries we are working in, our flexibility, our backlog and our prospect list, we remain positive about upcoming quarters.” ($1=$1.22 Canadian) (Reporting by John McCrank; Editing by Steve Orlofsky)

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