Financial results for Skanska UK show that in the聽 nine months to 30 September 2013 it has made an operating profit of 拢28.5m on revenues of 拢853m.
This equates to an operating margin of 3.3 per cent (excluding development activities), which is a slight increase on the 3.2% for the first half-year but still down on 2012鈥檚 figure of 3.6%.
Skanska UK made an operating profit of 拢17.5m on revenue of 拢545m for the six months to 30 June 2013.
President and chief executive of Skanska UK Mike Putnam said: 鈥淲e remain on track to meet our 2013 financial targets. Our order bookings are good, with some notable project wins as the market starts to show signs of recovery.鈥�
Over the nine months to date, the company has booked 拢600m of new work. However, there is also significant amount of work won but not yet booked, the company said, giving it reason to feel positive.
鈥淲e saw two project-win firsts,鈥� said Putnam. 鈥淎 highways services contract with Peterborough City Council, worth 拢100m over 10 years, was the first project win for our enlarged highways maintenance team. This follows the acquisition of Atkins鈥� highways services business earlier this year. All 1,200 employees and contracts are now transferred from Atkins to Skanska UK.
鈥淭he other first was the asset and total facilities management contract for Woking Borough Council, worth up to 拢30m over 10 years, which expands into local authorities the markets we serve with our facilities management services.
鈥淚n addition, we secured the groundworks contract to deliver UK Power Networks projects in London, worth up to 拢45m over five years.鈥�
Skanska took the decision to reduce its investment in UK house-building, so as to focus its investment capital in areas such as infrastructure development, commercial development and construction. Commercial development projects in London, Bristol and Doncaster are making good progress, the company said. In Doncaster, ground-breaking is set for November at the Bentley Works redevelopment. In Bristol, construction works have started on Skanska鈥檚 development at 66 Queen Square.
鈥淚t is a balanced performance 鈥� we are doing well in a difficult market and our strategy is sound. We are set to finish the year on target and we are well placed for 2014,鈥� said Mr Putnam.
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