Swedish construction group Skanska: 2Q profit rose 5 pc despite weaker order bookings

STOCKHOLM, Sweden_Swedish construction firm Skanska AB posted a 5 percent rise in second-quarter net profits Thursday despite a fall in order bookings for its main business unit. Net profits in the April to June period reached 1.1 billion kronor (US$183 million), up slightly from around 1 billion in the same quarter the previous year. Aside from stronger revenues, the Stockholm-based company said the increase was attributable to a range of factors including a 235 million kronor (US$39 million) write-down in Britain, an additional 43 million kronor (US$7.1 million) gain from its sale of the hydropower plant Ponte de Pedra in Brazil and the divestment of properties. Sales in the period reached 37.1 billion kronor (US$6.2 billion), up from 35.4 billion in the same three months a year ago. Order bookings in its Construction unit,... [read full story]