OTTAWA (dpa-AFX) - SNC-Lavalin Group Inc. (SNC.TO), a professional services and project management company, reported Friday that its second-quarter net income attributable to shareholders were C$45.72 million, compared to last year's loss of C$111.65 million.
On a continuing operations basis, attributable net income was C$29.19 million or C$0.17 per share, compared to a prior year's net loss of C$25.30 million or C$0.14 per share.
Adjusted net income attributable to SNC-Lavalin shareholders was C$56.8 million or C$0.32 per share, compared to C$28.3 million or C$0.16 per share a year ago.
Revenue grew to C$1.80 billion from last year's C$1.66 billion.
Looking ahead, Ian Edwards, President and CEO of SNC-Lavalin Group, said, 'With these second quarter results and the current trends across our businesses, we remain on track to meet our 2021 outlook expectations.'
Separately, SNC-Lavalin said it has closed the sale of a substantial portion of its Resources Oil & Gas business on July 29, pursuant to the previously announced binding agreement with Kentech Corporate Holdings Limited dated February 9, 2021.
The balance of closing, which constitutes the Saudi Arabian portion of the business, is expected to be completed by the end of third quarter following the anticipated receipt of standard Saudi Arabian regulatory approval.
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