UK revenue rises 17% but building and civil construction are hampered by staff shortages

Skanska posted disappointing set of results for the third quarter with net profit and revenues falling.

Net profit for the three months to September 2006 were £58.3m down from £70.6m for the same period last year, a drop of 17%. Revenue was down 0.1% to £2.3bn from £2.3bn.

However measure over nine months net profit is up slightly to £204.5m for the nine months to September 2006 from £204.5m last year.

In the UK, construction revenue for the three months to September 2006 was up to £223m from £190m, an increase of 17%.

Chief executive Stuart Graham said the outlook for the construction division was “cautiously optimistic” but that its building and civil construction were hampered by a shortage of staff.