October 18, 2018 / 7:56 PM / a month ago

Skanska books charges in U.S. totaling $143.8 mln

Oct 18 (Reuters) - Swedish builder Skanska said on Thursday it booked charges of 1.3 billion crowns ($143.81 million) in the third quarter relating to construction projects in the United States and its exit from the power sector in the country.

Operating income in the third quarter is expected to be about 500 million crowns, Skanska added.

Skanska’s new strategy in the U.S. will include divesting operations in the power sector and ending its bidding for mega design-build public-private-partnership projects and engineering, procurement and construction projects, it added.

Skanska reported an unexpected drop in its second-quarter profit due to project writedowns at its struggling U.S. construction business. ($1 = 9.0395 Swedish crowns) (Reporting by Shubham Kalia in Bengaluru Editing by Alexandra Hudson)

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