Contractor posts strong snapshot results for first nine months of 2015

Skanska UK’s construction business has posted “record” operating profit of £24.8m for the first nine months of 2015, and revenue of £1.3bn.

In snapshot results published today, Skanska said its UK construction division achieved an operating margin of 2.4% over the nine-month period.

Mike Putnam (pictured), Skanska UK’s president and chief executive, said: “We are in a healthy and stable position. In a highly competitive marketplace we continue to deliver a steady operating margin that is at the higher end for the construction sector at this time.”

The third quarter saw a number of project wins and extensions for Skanska, including a £32m contract with Gloucestershire County Council to upgrade 55,000 streetlights across the county. Meanwhile Skanska’s development business bought a four hectare site near Temple Meads station in Birstol where it plans to build an office-led commercial development.

During the period Skanska UK booked £1.3bn of orders.

Putnam added: “We remain in a challenging contracting environment, but I believe we are on track for a solid 2015 and a firm foundation for profitable and sustainable growth in 2016.

“We have welcomed over 100 graduates and 75 apprentices and trainees as part of our 2015 intake. This demonstrates our clear commitment to provide opportunities for the next generation. It will also equip Skanska with the right people and the right skills in the future to deliver best quality, best value projects for our customers.”