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Skanska UK profits soar

Contractor Skanska yesterday announced a £10M increase in its UK operation's profits for the first nine months, compared with the same period last year.
Profits up to September were £25.7M on a turnover of £650M, compared with £16M on revenue of £524.4M for the first nine months of 2005.Order backlog at £2.1bn is a 75 per cent increase on that at the third-quarter of 2005. The order backlog includes a number of Private Finance Initiative schemes that have reached financial close during 2006: Barts and The London New Hospitals Redevelopment; and Midlothian Schools and Bristol Schools - the first contract under the UK's Building Schools for the Future programme.Backlog also includes three ECI road schemes: M1 junctions 6a-10; A2 - Phase 2; and Pepperhill to Cobham and Temple Sowerby.Skanska UK chief executive David Fison said: 'Great results. It's our people that make the difference. They care about doing a great job and that's showing through in work won and profits.'

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