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TORONTO — SNC-Lavalin Group outlined plans to buy back a large chunk of its shares on Thursday, after reporting a much bigger quarterly net profit, driven by gains from acquisitions and favourable currency moves.

The Montreal-based engineering and construction firm also said it is continuing to move forward in a deliberate manner on the sale of its stake in Highway 407 in Canada and that it has hired financial advisers to assist with the process.

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SNC said its net income rose to $104.4 million, or 68 cents a share, from $94.6 million, or 62 cents, a year earlier.

Excluding one-time items related to a foreign exchange gain, acquisition-related costs and other items, the company posted a profit of $94.2 million, or 62 cents a share.

Revenue rose more than 30 per cent to $2.26 billion, boosted by SNC’s acquisition of engineering group Kentz Corp last year.

The company outlined plans to buy back up to 13.3 million shares, or about 10 per cent of its free float. SNC has roughly 152.1 million shares issued and outstanding, and its free float stands at about 133.1 million shares.

© Thomson Reuters 2015