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Skanska Q1 operating profit, orders beat expectations
May 5, 2017 / 5:46 AM / 5 months ago

Skanska Q1 operating profit, orders beat expectations

STOCKHOLM, May 5 (Reuters) - Swedish construction group Skanska reported on Friday a smaller than expected drop in first-quarter operating profit helped by unexpectedly strong performance at its infrastructure development business.

Group operating profit shrank to 1.85 billion crowns ($209.3 million) from the year-ago 1.97 billion, which was boosted by high commercial property divestment, and ahead of a 1.43 billion crowns forecast in a Reuters poll of analysts.

Order intake at the Construction unit, which books the bulk of sales, beat forecasts with an increase to 38.2 billion crowns from 30.3 billion, against a forecast 37.7 billion. ($1 = 8.8392 Swedish crowns) (Reporting by Anna Ringstrom; editing by Johannes Hellstrom)

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