SNC-Lavalin Group Inc.’s past continues to haunt the engineering giant, and investors aren’t happy.
Montreal-based SNC on Friday reported a third-quarter net loss of $85.1 million compared with year-ago profit of $2.76 billion, when results were bolstered by the sale of a minority stake in Ontario’s Highway 407. The loss reflects a $58-million arbitration ruling against the company on a long-completed fixed-price construction project, which SNC didn’t identify, as well as lower productivity caused by COVID-19 safety protocols.
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