Skanska enjoys surge in UK revenue and orders

Grant Prior 10 years ago
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Skanska UK’s construction business saw revenue rise by 15% during the first quarter of 2014 compared to average rates last year.

The three-month turnover figure of £334.6m follows a string of contract wins and the addition of Atkins former highways business.

Operating profit during the first quarter was £10.4m equating to an operating margin of 3.1%.

President and CEO Mike Putnam said: “We have seen a significant jump in revenue.

“This is due to the first full quarterly contribution from our enlarged road maintenance operation following the acquisition of Atkins Highways Services last year, combined with underlying growth across our business in line with our strategic plans.”

During the first three months of 2014, £361m of orders were booked including the contract to build One New Street Square in the City of London.

Putnam said: “Our order bookings equate to a book to build ratio of 108 per cent.

“Any figure greater than 100 per cent is good news as it means we are taking in more bookings than revenue. The outlook for the year as a whole is positive as we have a strong pipeline of work.

“We are looking to recruit a significant number of people over the coming years and we see this as an opportunity to bring even greater diversity into our business.

“We’ve had a good start to 2014 and I am confident about the future.

“We have three of our own commercial development projects now underway – The Monument Building in London, 66 Queen Square in Bristol and Bentley Works in South Yorkshire.

“I believe the outlook for the industry as a whole is now much more positive.”

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