May 9, 2014 / 5:56 AM / 4 years ago

Skanska Q1 orders rise more than expected, profit lags

STOCKHOLM, May 9 (Reuters) - Skanska, the biggest builder in the Nordics, posted a rise in first-quarter order intake well above expectations on Friday and said its markets were improving as operating profit for the period rose less than forecast.

Order intake in Skanska’s construction unit, which accounts for roughly 90 percent of group sales, rose to 32.5 billion Swedish crowns ($5.0 billion) versus a mean forecast of 28.9 billion in a Reuters poll of analysts and a year-ago 24.3 billion.

Sweden’s Skanska said operating earnings rose to 656 million Swedish crowns from a year-ago 519 million. That compared to a mean forecast of 818 million in the Reuters poll. However, excluding an estimate that was much higher than all others, the mean would have been 745 million.

Link to full report: ($1 = 6.5051 Swedish Crowns) (Reporting by Sven Nordenstam)

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