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SNC-Lavalin sticks to profit forecast amid Libya row

The Address | Benghazi – Libya

OTTAWA – Canadian construction and engineering company SNC-Lavalin Group Inc. maintained its profit outlook for 2018 on Thursday, a month after concerns around Libya-related bribery and corruption charges knocked 14 percent off its stock.

According to Reuters, the Montreal-based company’s shares took a beating in early October when the Canadian government refused to negotiate a remedial deal related to the charges against its Libyan operations filed in 2015.

“Despite external unfortunate developments beyond our control, our strong nine months performance coupled with our high quality backlog across our sectors allow us to maintain our 2018 outlook,” the company said in its quarterly results release.

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