Skanska UK’s turnover passed the £1.5bn mark in 2009, and the company returned to profitability.
Operating profit was £38.9m for the full year, compared with a loss of £47.1m in 2008. The firm’s order book stands at £2.15bn.
The year has been a turbulent one for the Swedish-owned contractor, with David Fison replaced as CEO by Mats Williamson, who subsequently handed over the reins to Mike Putnam.
“I am very pleased with these results,” said Putnam. “They are in line with our targets and evidence of the work we have undertaken to put our past behind us and get the business back on track.”
“We do expect similar market trading conditions through 2010, However 2010 has started on a brilliant note for us with the announcement earlier this week that we, together with our partners RM, have been selected as Preferred Bidder for the Essex Building Schools for the Future Programme – the result of a lot of hard work and commitment of our staff.”
However, Johan Karlström, CEO of Skanska worldwide, said:
“In the British market, we expect reduced public construction investments over the next several years, which will intensify competition in an already highly competitive market.”