- Reuters
UPDATE 3-Skanska profit lags forecast as charges sting construction arm
Swedish builder Skanska reported a smaller-than-expected rise in first-quarter operating profit on Wednesday as profits in its construction business fell hit by one-off costs. The Nordic region's biggest construction group said operating earnings rose to 497 million crowns ($45.6 million) from 394 million, missing the 873 million expected by analysts in an LSEG compilation of forecasts. Weakness in commercial and residential property development has weighed on earnings over the past year with Skanska booking impairments and scaling back dividends, despite robust performance for the bigger construction business.
- Insider Monkey
20 Largest Construction Companies in the World
In this article, we will look into the 20 largest construction companies in the world. If you want to skip our detailed analysis, you can go directly to the 5 Largest Construction Companies in the World. Construction Sector: An Analysis According to a report by the Business Research Company, the global construction market was worth […]
- Reuters
Swedish builder Skanska's profits tumble, but less than expected
STOCKHOLM (Reuters) -Skanska, the Nordic region's biggest builder, on Friday reported a 73% fall in fourth-quarter operating profit due to property value writedowns in weak real estate markets. Skanska had already warned in January it would book 2 billion crowns ($191 million) worth of impairments in the quarter as well as value changes across its property development operations due to weak markets, in particular in U.S. commercial real estate development. "The fourth quarter brought a strong finish to a solid year for Construction, while Residential and Commercial Property Development remained impacted by weak property markets," CEO Anders Danielsson said.
