Sweden-based giant posts snapshot of UK half-year results

Skanska UK’s construction business has grown by a quarter, as the Sweden-based construction giant digests the implications of the UK’s vote for Brexit last month.

In a snapshot of its half-year results posted this morning, Skanska said its UK construction business hit £836m revenue over the first six months of this year, a 24% increase on the previous year.

Opering profit was £16.5m, equating to a 2% operating margin, the firm said.

Commenting on the EU referendum, Skanska chief executive Mike Putnam (pictured), said: “The financial crisis and recession showed that Skanska has a well-honed capability to manage through external change.

“We will continue to take a measured and calm leadership approach to our business as the picture following Britain’s decision to leave the EU becomes clearer.

“While the EU referendum result has created some uncertainty in our sector, we have seen little impact on our UK business to date. We have a wide portfolio of operations across public, regulated and private sectors that will provide diversity and resilience.

“We will continue to monitor the situation carefully and work very closely with all our customers, delivering against our commitments.”

Over the period the firm was boosted by major wins including a £45m job to build Derwent London’s Copyright Building office scheme in the West End and a £74m Northern Hub deal with Network Rail in Manchester.