黑洞社区

Skanska UK鈥檚 profit and revenue remained flat last year, but the firm is now targeting growth as the construction industry and the wider economy bounce back from recession.

In a snapshot of the firm鈥檚 results for the year to 31 December 2013, published this week, Skanska said operating profit for its UK construction business dipped slightly to 拢41.9m, down from 拢42.6m the previous year.

The firm said its UK revenue rose marginally to 拢1.2bn, up from 拢1.16bn in 2012, giving the UK construction business an operating margin of 3.4%, down 0.2 percentage points from 2012.

Skanska operates as part of the wider Skanska global construction group, which reported revenue of 拢12.9bn 鈥� up 3% on the previous year -and operating profit of 拢486m, up 12% on the previous year.

Skanska鈥檚 UK is the fourth-largest country business of the Swedish-based giant, by revenue, after the US, Sweden, and Norway.

The firm said its UK business secured 拢1bn of new work in 2013, including the 拢54m Bond Street Crossrail station, as well as the 拢103m 1 and 2 Ludgate office development for Land Securities (pictured).

Speaking to 黑洞社区, UK president and chief executive Mike Putnam (pictured) said having 鈥渨eathered the storm鈥� the firm was now ready for a period of 鈥減lanned expansion鈥�, with the firm targeting growth across all its key sectors, particularly energy and infrastructure.

He said the acquisition of Atkins鈥� highways services business last year would help the firm win a greater share of the roads market, which is set to see a major increase in investment.

鈥淭he recession is now in the rear view mirror 鈥� but the industry is still dealing with some of its aftermath. But because there is more confidence around there are more project starts,鈥� he said.

鈥淭here is a significant amount of work at preferred bidder status and that is going to lead to growth over the coming years.鈥�

He said the firm was also targeting more work in London, where it has had some high profile successes over the past year, including the 拢177m 1 New Street office scheme, also for Land Securities, and the 拢500m Scalpel tower in the city of London, for US insurance firm W.R Berkley.

鈥淲e鈥檙e very pleased with those wins but we regard it as business as usual and not out of the norm,鈥� he said.

鈥淲e鈥檙e still actively looking for more as we鈥檙e nowhere near full up yet.鈥�

Last year Skanska abandoned its ambition to become one of the UK鈥檚 top housebuilders after it announced it would close its fledgling housing development division.

Putnam said the firm was now in the process of selling off parcels of land attached to the business, with the sales expected to be completed this year. 鈥淲ith the way the housing market it is there has been strong interest shown,鈥� he said.

He said housing would remain a 鈥渧ery small鈥� part of Skanska鈥檚 overall project portfolio: 鈥淲e will be very selective going forward 鈥� it will be part of the armoury part a small part.鈥�