{"id":502042,"date":"2024-07-09T12:43:49","date_gmt":"2024-07-09T11:43:49","guid":{"rendered":"https:\/\/www.constructionnews.co.uk\/?p=502042"},"modified":"2024-07-09T12:43:49","modified_gmt":"2024-07-09T11:43:49","slug":"skanska-lauds-early-engagement-as-profit-inches-up","status":"publish","type":"post","link":"https:\/\/www.constructionnews.co.uk\/contractors\/skanska\/skanska-lauds-early-engagement-as-profit-inches-up-09-07-2024\/","title":{"rendered":"Skanska lauds \u2018early engagement\u2019 as profit inches up"},"content":{"rendered":"

Skanska has hailed \u201cearly contractor involvement\u201d as it reports an increased profit for last year.<\/p>\n

The Swedish contractor\u2019s UK arm, Skanska UK, penned a pre-tax profit of \u00a327.3m in the year to 31 December 2023, up from \u00a324.5m in the previous year. The contractor\u2019s turnover dropped slightly, from \u00a31.38bn to \u00a31.33bn.<\/p>\n

Skanska<\/a>, which is the 13th<\/sup> biggest contractor according to the latest version<\/a> of the CN100, pinpointed \u201cearly engagement\u201d in the contracting process as key to \u201cdesigning functional and cost-saving solutions\u201d within projects.<\/p>\n

\u201cJoining a project at an early stage aids the group in early identification and management of risk with its customers, as well as in helping customers be more successful in their core businesses,\u201d the contractor said.<\/p>\n

\u201cThis is a procurement route that we increasingly demand during our opportunity selection phase.\u201d<\/p>\n

The firm pointed to two bumper projects that aided the strong performance last year – in a \u00a3219m job to build a two-storey military facility and warehouse at RAF Molesworth in Cambridgeshire, and a \u00a3158m fit-out job at a data centre site in London\u2019s Docklands<\/a>.<\/p>\n

Despite Skanska\u2019s strong performance, it tabled provisions of \u00a377.0m, including around \u00a320.8m of provisions for unspecified liabilities and \u00a337.2m for \u201cforward loss on contracts and disputes\u201d.<\/p>\n

Its cash was down at \u00a3396.3m, in comparison to \u00a3441.5m the year before, which Skanska said was mainly due to a \u00a340.0m dividend paid out to its shareholders. Last year, Skanska paid its shareholders a \u00a365.0m dividend.<\/p>\n

Skanska employed an average of 3,436 people last year, almost unchanged from 3,435 in 2022. Its executive pay remained steady at \u00a33.6m, with the best-paid director receiving total remuneration of \u00a3591,762.<\/p>\n","protected":false},"excerpt":{"rendered":"

Skanska has hailed \u201cearly contractor involvement\u201d as it reports an increased profit for last year. The Swedish contractor\u2019s UK arm, Skanska UK, penned a pre-tax profit of \u00a327.3m in the year to 31 December 2023, up from \u00a324.5m in the previous year. The contractor\u2019s turnover dropped slightly, from \u00a31.38bn to \u00a31.33bn. Skanska, which is the …<\/p>\n","protected":false},"author":90643,"featured_media":459094,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[552,543],"tags":[],"class_list":["post-502042","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial","category-skanska","issue-online-news"],"yoast_head":"\nSkanska lauds \u2018early engagement\u2019 as profit inches up | Construction News<\/title>\n<meta name=\"description\" content=\"Skanska has hailed \u201cearly contractor involvement\u201d as it reports an increased profit for last year. 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