AtkinsRéalis Group reports fourth-quarter profit down, announces sale of 407 stake

Photo: The Canadian Press

AtkinsRéalis Group Inc. reported its fourth-quarter profit fell compared with a year ago as it announced the sale of its remaining stake in the company that owns the Highway 407 ETR toll highway north of Toronto.

AtkinsRéalis Group Inc. reported its fourth-quarter profit fell compared with a year ago as it announced the sale of its remaining stake in the company that owns the Highway 407 ETR toll highway north of Toronto.

The engineering services firm says it earned net income attributable to shareholders of $52.4 million or 30 cents per diluted share for the quarter ended Dec. 31, down from $90 million or 51 cents per diluted share in the same quarter last year.

On an adjusted basis, AtkinsRéalis says its professional services and project management business earned 26 cents per diluted share, down from an adjusted profit of 45 cents per diluted share a year ago.

Revenue for the quarter totalled $2.59 billion, up from $2.28 billion in the same quarter last year.

The company says its services backlog reached a record $17.2 billion as of Dec. 31, up from $13.7 billion a year earlier, due to demand for the company's services and nuclear products, while its lump-sum turnkey project backlog sat at $234.3 million, down from $364.6 million a year ago.

AtkinsRéalis also announced it reached deals to sell its 6.76 per cent stake in Ontario's 407 toll highway to subsidiaries of Ferrovial SE and the Canada Pension Plan Investment Board for approximately $2.79 billion.