SNC-Lavalin expects to be cash flow positive in the second half of the year: CEO
BNN Bloomberg
As SNC-Lavalin Group Inc. continues to execute its strategy from four years ago to transform the business, the company’s top executive expects it to be cash flow positive in the second half of the year.
Ian Edwards, president and chief executive officer of SNC-Lavalin, said in an interview with BNN Bloomberg Friday that the company has been “methodically working” for the past four years to transform the business. He said this transformation has three key parts, including exiting both oil and gas as well as construction and doubling down on growing markets like nuclear power.
“We're really pleased with the results that we’re achieving in growth [in] Q1 and Q2,” Edwards said, adding that the company hit 14 per cent growth during the first half of the fiscal year.
Edwards also noted the business was expecting “a drag” from previously closing out construction contracts.
