MONTREAL – SNC-Lavalin Group Inc. announced it is conducting a strategic review to optimize its portfolio of businesses as it reported a loss in its fourth quarter.
SNC chief executive Ian Edwards says the company is looking to focus on the growth it achieved in 2022, within its engineering services, nuclear and operation and maintenance businesses.
Edwards made the comments as the engineering firm reported its loss from continuing operations attributable to shareholders amounted to $54.4 million or 31 cents per share for the quarter ended Dec. 31.
The result compared with a loss of $15.3 million or nine cents per share in the last three months of 2021.
Revenue totalled $1.90 billion, down from $1.94 billion a year earlier.
On an adjusted basis, SNC says its professional services and project management operations lost 19 cents per diluted share in its fourth quarter compared with a loss of 15 cents per diluted share in the fourth quarter of 2021.
This report by The Canadian Press was first published March 3, 2023.
Companies in this story: (TSX:SNC)
