Skanska CEO sees 12 pct fall in revenues in 2009

Thu Nov 5, 2009 3:36am EST
 
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STOCKHOLM, Nov 5 (Reuters) - Top Nordic construction firm Skanska (SKAb.ST) will post a 12 percent decline in revenues in 2009 from the previous year but expects the fall to slow next year, the company's chief executive said on Thursday.

CEO Johan Karlstrom told Reuters in an interview he expected revenues in the company's key Nordic market would drop by 15 percent this year from a year ago. The decline next year will be slower than last year but still above average for the firm.

"This year we see a revenue decline of about 12 percent compared to 2008, where the Nordic region has a higher percentage (decline) than the average," he said.

"For 2010 we see a continued decline, but less than between 2008 and 2009, i.e. less than the 12 percent."

Earlier on Thursday, Skanska posted third-quarter pretax profit above expectations but again warned that its construction revenues would continue to fall in 2010.

(Reporting by Oskar von Bahr, Stockholm Newsroom, tel: +46-8-700 1017, e-mail: stockholm.newsroom@reuters.com))

 

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