Thursday, May 2, 2019

SNC-Lavalin Group - SNC.t

SNC-Lavalin Group - SNC.t is a global fully integrated professional services and project management company and a major player in the ownership of infrastructure.

The Montreal-based company provides engineering, procurement and construction and engineering, and construction management services in a variety of industry sectors, including mining and metallurgy, oil and gas, environment and water, infrastructure and clean power.
On May 2, 2019 the company released News

SNC-Lavalin loses $17.3-million in Q1
Q1 2019 reported IFRS (international financial reporting standards) net loss attributable to SNC-Lavalin shareholders was $17.3-million, or 10 cents per diluted share, compared with a reported IFRS net income attributable to SNC-Lavalin shareholders of $78.1-million, or 44 cents per diluted share, for the corresponding period in 2018.
On Jan 28, 2019 the company released News

SNC-Lavalin Group Inc.'s full year 2018 results will be lower than expected.

Neil Bruce, president and chief executive officer, said: "A serious problem has just come to light in relation to a single project in the mining and metallurgy segment. The contract was awarded in 2016 and its year-end underperformance relative to internal budgets will materially affect our Q4 results, and therefore our full year 2018 results. This isolated incident is unacceptable and I intend to take appropriate actions to mitigate the financial impacts for the company."