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Skanska profit beats forecast

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Christian Fernsby ▼ | July 24, 2019
Skanska   Its markets were positive overall but slightly lowered

Skanska’s efforts to improve margins are on track, it said on Wednesday as it reported better than expected second-quarter operating profit.

Skanska, the Nordic region’s largest builder and one of the biggest in the United States, said its markets were positive overall but slightly lowered its outlook for the civil market in Sweden and the UK while sticking to previous guidance for other market segments.

“In the UK the uncertainty related to Brexit is limiting investments in the non-residential building market and also impacting the civil market negatively,” Skanska said.

The operating margin in its construction business, the company’s biggest division, rose to 2.9 percent from 1.4 percent a year ago.

Skanska said low-profitability projects in Poland and the United States are near completion.

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