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Bumper year for Skanska directors

15 Aug 23 Skanska UK had a reasonably good year last year but its directors had an even better one.

Skanska UK president and chief executive Katy Dowding
Skanska UK president and chief executive Katy Dowding

In the year ended 31st December 2022, Skanska UK grew its total revenues by 12% to £1,400.2m (2021: £1,249.6m) and pre-tax profit on continuing operations by 58% to £55.0m (2021: £34.7m).

This included a one-off £29.1m gain on the sale of Infrastructure Services, sold to M Group Services in March 2021 for £50m.

Across the company, the average (mean) salary at Skanska UK last year was £66,750, up 15% from £57,780 in 2021.

However, this was inflated by increases at the top of the company.

The directors saw their remuneration increase by 64% and the value of their long-term incentive plans increase by 86%.

The highest paid director – presumably president and chief executive Katy Dowding – saw their remuneration almost double from £384,000 in 2021 to £758,000 in 2022.  

Major contract wins for Skanska UK during the year included a £235m contract for a 16-storey commercial office building at 105 Victoria Street in London, the £500m A46 Newark Bypass and a £259m project to build an army vehicle storage hub in Tewkesbury.

Skanska employs three times as many people in administration as it does in construction – with 2,630 admin staff last year and just 805 in construction roles.

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