Skanska Profit Halved

Skanska, the Nordic region’s biggest construction group, reported pretax earnings just below expectations Wednesday. The group says net profits more than halved in the first quarter as it continues to suffer from the economic slowdown.

Pretax profit was 78 million dollars, with net profit at 55 million dollars for the quarter.

CEO Johan Karlström says order bookings have fallen by as much as 30 percent, which is still not as bad as feared.

He says the company is staying with the forecast that sales volume will decline by around 10 percent this year. But with large government stimulus packages under way, Skanska expects demand to pick up.

Our journalism is based on credibility and impartiality. Swedish Radio is independent and not affiliated to any political, religious, financial, public or private interests.
Du hittar dina sparade ljud i menyn under Min lista