Canada's SNC-Lavalin Group Inc posted a higher quarterly profit on Thursday, as it benefited from lower expenses and income taxes, while demand in its core engineering and construction (E&C) business fell.
The company's selling, general and administrative expenses fell nearly 8 per cent to $185.3 million in the second quarter ended June 30.
Revenue from its E&C unit, its biggest business, fell 8.6 per cent to $1.87 billion due a decline in demand in the oil and gas, and power and infrastructure sectors.
Total revenue declined to $1.93 billion from $2.10 billion.
Net income attributable to SNC's shareholders was $136.4 million, or 91 Canadian cents a share, in the quarter, compared with $88.5 million, or 59 Canadian cents, a year earlier.
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