The Globe and Mail reports in its Saturday edition that SNC-Lavalin Group (now AtkinsRéalis) earned a $90-million profit in the fourth quarter ended Dec. 31 versus a loss of more than $54-million in Q4 last year. A Canadian Press dispatch to The Globe says that the company also boosted the backlog of its services business by more than $1-billion from the third quarter to a new high of $13.7-billion. The fresh contracts behind that sum include an AtkinsRéalis-led consortium deal worth $750-million to extend the life of a Romanian nuclear reactor, runway safety work at the Miami airport and an agreement to modernize Montreal's Saint-Jerome hospital. Under Mr. Edwards's stewardship since June, 2019, AtkinsRéalis has shifted its focus to engineering and consulting services and away from lump-sum projects -- fixed-price contracts under which the company must foot the bill for cost overruns. However, three so-called lump-sum turnkey construction contracts continue to plague its business: Toronto's Eglinton Crosstown light-rail transit system, Ottawa's Trillium Line and Montreal's REM light-rail network extension. In Q4, AtkinsRéalis reported that revenue rose 20 per cent to $2.28-billion from $1.90-billion a year earlier.
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