This time last year, building was congratulating vinci and Bouygues on their dominance of the European construction market. The table of the top 300 European contractors had shown that the French companies had pushed the mighty Skanska into third place, thanks mainly to their engineering know-how and their skill in managing the construction process. This time this year, we're lobbing more bouquets at them, because Vinci has increased its turnover 8%, and Bouygues has grown 7%. Skanska, by comparison, has dropped 9%, thanks to the subdued US economy and the £52m hit it took on a liquid natural gas contract in the UK. Stuart Graham, Skanska's president and chief executive, points out that with 12,000 contracts under way at any one time, a few problems are to be expected. Nevertheless, the business will come roaring back at the French lions next year.
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