UK Construction arm of business sees pre-tax profit soar to £73m.
Skanska UK construction saw a massive jump in profits and a healthy order book.
Partially helped by the sale of its infrastructure services arm to M Group for £29m, Skanska UK booked an operating profit of £34m up from £12m the year previously on targeted operating margins of 3%. Skanska closed 2021 with £1.3bn of orders, supported by £520m of cash placing it in a strong position for growth.
Integral to the firm’s new 2024 business plan, every project must hit or beat tender margin, delivering an operating margin of 3% or greater.
Outgoing finance director Kelly Gangotra said that Skanska was focused on five key areas to deliver better project performance: The right people; design control; understanding and applying the deal, quality; forecasting and reporting.
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