SNC-Lavalin Q2 profit dips, shares slip, (TSE: SNC)

SNC-Lavalin Group (SNC.TO) reported a 16 percent drop in quarterly profit on Friday dragged by lower contributions from its infrastructure segments, sending shares down 4 percent. SNC-Lavalin, Canada's top engineering company, said it earned C$100.7 million, or 66 Canadian cents a share, in the three months to end-June. That compared with earnings of C$119.1 million, or 78 Canadian cents a share, in the same period last year. The company blamed lower contributions from its infrastructure and environment segment and its infrastructure concession investments segment for the lower profit, which was partly offset by higher contributions from all other segments. Revenue rose 23 percent to C$1.67 billion in the quarter.