Skanska UK saw its profit and revenue increase in 2022, according to just-filed company accounts.<\/p>\n
The contractor’s pre-tax profit rose to \u00a355m, a 59 per cent increase on the previous year’s \u00a334.7m.<\/p>\n
Turnover increased to \u00a31.4bn, a 17 per cent increase on the previous year’s \u00a31.2bn, with its pre-tax profit margin sitting at 3.9 per cent.<\/p>\n
Consolidated year-end cash and cash equivalents totalled \u00a3441.5m (2021: \u00a3519.7m), a decrease of \u00a378.2m. This was mainly due to the payment of \u00a365m in dividends to the firm’s Swedish parent company.<\/p>\n
The strong results come despite a number of recent challenges. According to the firm, Russia’s invasion of Ukraine \u201cincreased risk to all areas of the group in 2022, including risk of price fluctuations, workforce and material supply and energy price fluctuations\u201d.<\/p>\n
It added: \u201cPolitical changes in the UK government during 2022 added to these risks. A risk-averse culture coupled with open and collaborative relationships with our stakeholders has and will continue to mitigate any impact on delivery and financial performance.\u201d<\/p>\n
Brexit had not had \u201ca material financial impact on the group\u201d.<\/p>\n
Skanska explained: \u201cA reason for this is that we have worked closely with our key supply chain to ensure the fallout from the EU exit (as well as the Covid-19 return to work and Ukraine war) is managed from a risk perspective including availability of workforce.<\/p>\n
\u201cThe group continues to review all aspects of how this legislative change could impact its operation and ensure steps are in place to mitigate any financial degradation.\u201d<\/p>\n
Major contract wins for the period ending December 2022 included a mixed-use commercial development at 105 Victoria Street, London; a \u00a3259m vehicle-storage hub in Gloucestershire; and upgrading a stretch of the A46 Newark Bypass.<\/p>\n
The company’s highest-paid director earned \u00a3758,000, compared with \u00a3383,501 in 2021.<\/p>\n
The company saw its average headcount reduce during the year, with its average number of construction employees falling from 1,042 to 805 and average number of administrative employees dropping from 2,814 to 2,630.<\/p>\n","protected":false},"excerpt":{"rendered":"
Skanska UK saw its profit and revenue increase in 2022, according to just-filed company accounts. The contractor’s pre-tax profit rose to \u00a355m, a 59 per cent increase on the previous year’s \u00a334.7m. Turnover increased to \u00a31.4bn, a 17 per cent increase on the previous year’s \u00a31.2bn, with its pre-tax profit margin sitting at 3.9 per …<\/p>\n","protected":false},"author":139598,"featured_media":459094,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[552,543,526],"tags":[],"class_list":["post-484370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial","category-skanska","category-contractors"],"yoast_head":"\n