Recovering Skanska says UK rejig beginning to pay off

摘要

Skanska says a restructure is beginning to pay off as the firm more than trebled pre-tax profit at its UK business last year. The contractor, which recently won a £58m deal to build an office block near Old Street roundabout for Derwent London and is also working on a £121m scheme to refurbish London Wall for La Salle and Citygrove, said pre-tax profit jumped from £13.5m to £44m in the year to December 2018. Turnover for the year was up 7% to £1.9bn. Skanska was hobbled by a series of problem contracts that caused a £32m writedown in July 2017 and led to it cutting the number of its business units and embarking on a redundancy programme.