July 30, 2008 / 3:05 PM / 9 years ago

SNC-Lavalin profit rises, backlog dips

TORONTO (Reuters) - Engineering and construction firm SNC-Lavalin Group (SNC.TO) said on Wednesday that profit rose in the second quarter, helped by higher operating income in several sectors and a lower operating loss in its power segment.

SNC said net income was C$75.4 million ($73.5 million), or 49 Canadian cents a share, up from C$41.1 million, or 27 Canadian cents a share, in the same period the year before.

Analysts, on average, had expected a profit of 45 Canadian cents a share before exceptions, according to Reuters Estimates.

The Montreal-based company said revenue edged up to C$1.70 billion from C$1.69 billion in the year-before quarter.

SNC had a backlog of orders worth C$9.4 billion at the end of June, compared with C$10.5 billion at the end of June 2007.

Shares of SNC were up C$1.87, or 3.5 percent, at C$54.75 on Wednesday morning on the Toronto Stock Exchange.

($1=$1.02 Canadian)

Reporting by Leah Schnurr; Editing by Peter Galloway

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