STOCKHOLM Feb 3 Swedish construction group
Skanska posted on Friday a surprise rise in
fourth-quarter operating profit helped by stronger-than expected
performance at its property development operations.
Operating profit grew to 3.30 billion crowns ($377 million)
from 3.06 billion a year ago. The mean forecast in a Reuters
poll of analysts was for 2.86 billion crowns.
A British motorway project sale contributed to the rise in
earnings, helping to offset impairments in its Commercial
Property and Infrastructure Development units and writedowns at
its Commercial Property Development business.
Order intake at the Construction unit, which accounts for
the bulk of sales, also beat forecasts with an increase to 39.6
billion crowns from 29.9 billion, against forecast 34.4 billion.
($1 = 8.7620 Swedish crowns)
(Reporting by Anna Ringstrom; editing by Niklas Pollard)