SNC Lavalin profit rises as services and packages business grows

March 8 Fri Mar 8, 2013 8:45am EST

March 8 (Reuters) - Canadian construction and engineering company SNC Lavalin Group Inc reported a 24 percent rise in fourth-quarter profit, helped by growth in its services and packages business and it raised its dividend for the quarter by 4.5 percent.

The company's net income attributable to shareholders rose to C$94.6 million ($92 million), or 63 Canadian cents per share, from C$76.0 million, or 50 Canadian cents per share, a year earlier.

Net income excluding infrastructure concession investments was C$24.2 million, compared with C$36.5 million a year earlier.

SNC has been at the center of an ethics and corruption scandal for more than a year after it revealed it had uncovered tens of millions of dollars in mysterious payments.

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