Skanska UK’s pretax profit margin has fallen to 1.5% in its latest full-year results.
According to documents filed at Companies House, the contractor posted a pretax profit of £23.6m for the year to 31 December 2016, down 44% compared with £42.1m a year earlier, while revenue rose 19.3% to £1.65bn, up from £1.38bn.
The company blamed “a challenging business environment” for the decline in its profit margin, and said it had “added an additional layer of scrutiny to bolster tender review processes”, as well as implementing a system “to better monitor large project performance”, as a result of the decline in profit.
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