Skanska profits boosted by US operations
18 Jul 2013, 13:51
Published: 18 Jul 2013 13:51 GMT+02:00
Net profit in the April to June period rose 19 percent to 1.063 billion kronor ($162 million), beating a consensus of just under one billion kronor by analysts polled by Dow Jones Newswires.
Revenue rose one percent to 34.561 billion kronor, held back by a stronger Swedish currency. In the first half of the quarter, revenue rose by eight percent in local currencies but just four percent in kronor.
"Skanska delivers a stable quarter with increasing order backlog, revenues and improved earnings," chief executive Johan Karlström said in a statement
The trend in order booking was particularly favourable in the US, Norway
and Poland. "Skanska's construction operations were underpinned by strong growth in the US and improved profitability in Norway and Finland in the first half," he
Skanska said it expects all of the company's markets - construction,
residential development, commercial property development and infrastructure
development - to remain stable over the next 12 months.
The US market will be the most dynamic, followed by the Nordic countries,
while the rest of Europe will continue to lag those markets, the company added.