February 1, 2018 / 6:52 AM / a year ago

Skanska construction order intake just lags expectations

STOCKHOLM, Feb 1 (Reuters) - Swedish construction group Skanska reported on Thursday a marginally bigger fall in full-year order intake than expected and an operating profit just above guidance issued in a profit warning earlier this month.

Order intake at the Construction unit, which books the bulk of sales, fell to 151.8 billion crowns ($19.3 billion) from a year-earlier 170.2 billion, against mean forecast of 152.6 billion in a Reuters poll of analysts.

Operating profit at the Nordic region’s biggest builder, and one of the biggest in the United States, was 5.50 billion crowns, down from 8.20 billion. In the fourth quarter alone, operating profit was 738 million, down from 3.30 billion.

Skanska, in the first big move under new Chief Executive Anders Danielsson, warned last month that full-year operating profit would be around 5.3 billion crowns and announced a new restructuring programme and an unchanged dividend for the year of 8.25 crowns per share. ($1 = 7.8835 Swedish crowns) (Reporting by Anna Ringstrom; editing by Niklas Pollard)

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