Skanska boosts UK profits despite turnover dip

Grant Prior 7 years ago
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Skanska continued to boost profits in the UK while letting turnover dip during the first six months of 2011.

Results for the six months to June 30 show UK revenue dropped to £537m but operating margins ticked-up to 3.8% from 3.3% for the full year in 2011 while operating income rose to £20.2m.

Roger Bayliss, Executive Vice President, Skanska UK, said: “Today’s results are encouraging. As can be seen, Operating Income and Operating Margins are up compared to that in 2011.

“This is a result of strong business management and successful completion of a number of projects during the period.

“Order bookings were also slightly up during the first six months of the year compared to the previous year.

“As we enter the second half of the year, we have a number of promising opportunities and our focus remains on managing our business to deliver performance on behalf of our clients, Skanska and our shareholders.

“The UK construction industry as a whole continues to experience challenging market conditions.

“Against this backdrop, we expect trading during 2012 to be broadly in-line with what we experienced last year.

“We will continue to target those projects which we believe are both right for Skanska and where we can deliver the needs of our clients.”

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