Economy. Profitability in Skanska’s construction operations fall. It will also share – significantly. But CEO Johan Karlström satisfied.
The profit rise and orders skyrockets, mainly as a result of Skanska’s largest order to date, construction of LaGuardia Airport in New York.
But profitability , profit to sales ratio, decreases, which pushes the share which fell by around five percent.
– Overall, that’s fine, says Skanska’s CEO Johan Karlström.
Above everything goes Skanska’s commercial real estate branch good, as housing construction.
– this low interest rate environment that we have, so does the asset classes like real estate is very sought after and we sell always stuff as soon as they is clear, says Karlström.
the British planned withdrawal from the EU learns affect the UK construction market.
– we see no canceled orders yet, but we expect that the private real estate market will be more cautious. It is believed that the financial market will move out and thus reduces investment in London. It can make other cities in Europe will be the winners. In total, Skanska can be positive, says Karlström.
The profit before tax landed at 1.679 billion crowns for the second quarter of 2016. That compares with profit of 1.573 billion kronor corresponding period last year.
Equity pros had on average expected a profit of 1.712 billion kronor, according to Reuters.
turnover fell to 37.767 billion kronor, compared to 40.354 billion kronor a year earlier.
the outlook for construction is positive and the housing market remains strong in Sweden, according to Johan Karlström.
Orders for construction activity in the first half lifted to 84.2 billion, up from 58.3 billion a year earlier. At the end of the quarter gave it an order backlog of 177.9 billion kronor, against 154.6 billion a year earlier.
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