April 26, 2019 / 5:52 AM / 3 months ago

Builder Skanska posts surprise fall in Q1 operating profit

STOCKHOLM, April 26 (Reuters) - Swedish building group Skanska reported on Friday an unexpected fall in first-quarter operating profit and lowered its outlook for the Swedish non-residential construction market slightly.

Operating profit at the Nordic region’s largest builder - and one of the biggest in the United States - was 488 million crowns ($51.2 million) against a mean forecast in a poll of analysts of 1.01 billion. A year earlier, the profit was 652 million crowns.

Order intake at the Construction division, which books the bulk of group sales, fell to 27.3 billion crowns from 32.9 billion. ($1 = 9.5304 Swedish crowns) (Reporting by Anna Ringstrom; editing by Niklas Pollard)

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