Reuters logo
Skanska Q2 profit to be hit by project write-downs
July 14, 2017 / 6:15 AM / 2 months ago

Skanska Q2 profit to be hit by project write-downs

STOCKHOLM, July 14 (Reuters) - Swedish construction group Skanska said on Friday it was writing down the value of projects in the United States and Britain, resulting in a fall in second-quarter operating earnings.

Skanska said it was booking project writedowns of 420 million Swedish crowns ($50.3 million) in its U.S. civil operations business while making an additional writedown of 360 million related to projects in its British operations.

After the writedowns, operating income at the builder was expected to be about 1.5 billion crowns in the second quarter versus a year-ago 1.7 billion.

$1 = 8.3564 Swedish crowns Reporting by Niklas Pollard

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below