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Skanska UK sees construction operating margin fall

Skanska’s UK construction operating margin fell to 2.4% in the first half of this year.

The Rickmansworth-based arm of the Swedish contractor recorded revenue of £675M in the six months to 30 June 2015. Its operating profit in that period was £16.1M.

This compared to revenue of £651M and operating profit of £19.9M in the same period a year earlier, which gave an operating margin of 3.1%.

Skanska UK said a number of contracts were won or extended in the second quarter of 2015, including a joint venture with Skanska Sweden to build a research facility near Malmö in Sweden.

The firm expects to hire 1,000 workers in the next 12 months.

Skanska UK president and chief executive Mike Putnam said: “Our order booking and pipeline of future work remains strong.

“We are also preferred bidder for a large number of projects. Following the recruitment of 750 people in 2014, we are taking on a further 1,000 people to deliver new projects. The outlook for 2015 as a whole is positive.”

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