{"id":2866,"date":"2019-02-08T09:11:45","date_gmt":"2019-02-08T09:11:45","guid":{"rendered":"https:\/\/cita.co.uk\/news\/?p=2866"},"modified":"2019-02-08T09:11:45","modified_gmt":"2019-02-08T09:11:45","slug":"skanska-europe-suffers-another-year-of-losses","status":"publish","type":"post","link":"https:\/\/cita.co.uk\/news\/skanska-europe-suffers-another-year-of-losses\/","title":{"rendered":"Skanska Europe suffers another year of losses"},"content":{"rendered":"

Skanska’s European business, which now includes UK operations, has suffered a loss for the second year running.<\/p>\n

This morning the Swedish construction group reported losses in the European region of \u00a336m, improved from a loss of \u00a386m in 2017.<\/p>\n

Revenue across the region, which also includes Poland\u00a0and Romania with the UK, remained stable at \u00a33bn.<\/p>\n

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Skanska said the hit came primarily from further project write-downs in Poland and an ongoing cost-cutting programme.<\/p>\n

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President and CEO Anders Danielsson warned that in the UK the uncertainty related to Brexit was limiting investments in the non-residential building market, while the\u00a0civils market was stable.<\/p>\n

Across the Skanska group, revenue grew 3% last year to \u00a314.7bn generating operating\u00a0profits of \u00a3420m, of which mainstream construction activities contributed around \u00a395m.<\/p>\n

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On construction division performance, Danielsson said: “At the beginning of 2018, we implemented strategic initiatives to improve performance and reduce risk in construction.<\/p>\n

“We are now starting to see the impact of these initiatives. Operating margin in construction in the fourth quarter was 2%\u00a0and we expect these strategic initiatives to further improve profitability during 2019.”<\/p>\n

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from Construction Enquirer http:\/\/bit.ly\/2RPNPF7<\/p>\n","protected":false},"excerpt":{"rendered":"

Skanska’s European business, which now includes UK operations, has suffered a loss for the second year running. This morning the Swedish construction group reported losses in the European region of \u00a336m, improved from a loss of \u00a386m in 2017. Revenue across the region, which also includes Poland\u00a0and Romania with the UK, remained stable at \u00a33bn. […]<\/p>\n","protected":false},"author":1,"featured_media":154,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[9],"class_list":["post-2866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-construction-enquirer"],"_links":{"self":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/2866","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/comments?post=2866"}],"version-history":[{"count":1,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/2866\/revisions"}],"predecessor-version":[{"id":2867,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/2866\/revisions\/2867"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media\/145"}],"wp:attachment":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media?parent=2866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/categories?post=2866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/tags?post=2866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}