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Skanska delivers steady performance in first half of 2015

The revenue from Skanska UK’s construction business in the first six months of 2015 was £675 million. Operating income was £16.1 million, which equates to an operating margin of 2.4 per cent.

Skanska’s development business continues to perform strongly, with the sale of 66 Queen Square in Bristol to Aviva Investors for about £33 million. Skanska has also acquired the long-leasehold interest of 51 Moorgate in the City of London from Corpus Sireo, while The Monument Building in London – which is under construction – is attracting encouraging interest from agents and investors.

Highways England has appointed Skanska, in a joint venture with Costain, to improve part of the A14 between Huntingdon and Cambridge in a contract worth around £600 million. The agreement is expected to be signed in 2016.

A number of contracts were won or extended in the second quarter of 2015. These include a new research facility, ESS Lund, near Malmö in Sweden which is being built as part of a joint venture with Skanska Sweden. This contract is worth £25.4 million to Skanska UK.

Several projects were successfully completed in the first half of 2015. These include the £34 million extension of HMP Thameside in London and the One and Two New Ludgate commercial development in the City of London.

Skanska UK’s President and CEO Mike Putnam said: “Our order booking and pipeline of future work remains strong. We are also preferred bidder for a large number of projects. Following the recruitment of 750 people in 2014, we are taking on a further 1,000 people to deliver new projects. The outlook for 2015 as a whole is positive.”