Skanska announces quarter one results on the day Financial Close for Barts and The London is reached

Press release 27/04/2006 00:00 CET

Skanska, which has today reached financial close for the redevelopment of Britain’s biggest hospital scheme under the UK Government’s Private Finance Initiative - Barts and The London announces its first quarter results for 2006.

Results for Skanska UK show robust performance in the underlying business with solid growth of 19.1 per cent and profits holding firm at £5.5 million.

The impact of Barts and The London going forward will not only lift the performance of the business in the coming years but also demonstrates the growing capability of Skanska UK to manage the most complex of projects through the entire programme of delivery from concept to ongoing maintenance.

David Fison, Chief Executive, Skanska UK Plc said, “We have started the year robustly. The award of Barts and The London underpins our development and provides the platform to outperform during 2006 and beyond.

“You can see from our results, we continue to deliver steady and consistent performance. It’s what our clients and shareholders have come to expect from us and by doing this we are delivering on those expectations.”

A copy of Skanska AB’s results, also released today, can be found at www.skanska.com.