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Skanska boosts UK turnover by 15%

Skanska has announced its UK turnover in the first quarter of 2014 was 15 per cent higher than its average quarterly turnover in 2013.

The UK construction business reported an operating profit of £10.4m in the first three months of 2014 and turnover of £334.6m, with an operating margin of 3.1 per cent.

It said the turnover was around 15 per cent higher than the average quarterly rate in 2013.

Skanska UK president and chief executive Mike Putnam said: “We have seen a significant jump in revenue.

“This is due to the first full quarterly contribution from our enlarged road maintenance operation following the acquisition of Atkins Highways Services last year, combined with underlying growth across our business in line with our strategic plans.”

In the first quarter of 2014, Skanska booked £361m of orders, including the contract for Land Securities’ £177m One New Street Square development in the City of London.

Last month, Skanska announced it would create 1,500 new jobs in the UK over the next two to three years to deliver the work it has already secured.

Mr Putnam said: “Our order bookings equate to a book-to-build ratio of 108 per cent. Any figure greater than 100 per cent is good news, as it means we are taking in more bookings than revenue.

“The outlook for the year as a whole is positive, as we have a strong pipeline of work,” he added.

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