Order book increases 95% to £2.2bn as UK profit hits £19.5m for first six months of 2006
The UK division of Swedish contractor Skanska today revealed a 95% hike in pre-tax profit to £19.5m, for the six months of 2006.
Skanska UK, which employs 3500 people, was boosted by contract wins in both the public and private sectors.
Since the end of the first half it has reached financial close on the first of the government’s Building Schools for the Future schemes in Bristol, as well as the PPP schools scheme for Midlothian Council in Scotland.
Turnover rose 27% to £424m.
The order backlog across the three business streams of construction, PFI/PPP, and civil engineering, stands at £2.2bn, up 95% compared with the same period last year.
Highlights in the first half included financial close on the £1bn Barts and the London New Hospitals programme, the largest ever UK PFI healthcare scheme.
In the private sector, it has just completed the Palestra office building in London and was appointed by developer and investor Heron to build the first phase of the Heron Tower, which will be London’s tallest tower. Work is expected to start in 2007.