July 20, 2018 / 5:54 AM / a year ago

Skanska Q2 operating profit unexpectedly falls

STOCKHOLM, July 20 (Reuters) - Swedish construction firm Skanska posted on Friday an unexpected drop in second-quarter operating profit and said its Construction division had taken new writedowns in the quarter.

Operating profit at the Nordic region’s biggest builder fell 11 percent to 1.29 billion crowns ($145.05 million) against a mean forecast in a Reuters poll of analysts for a 5 percent rise.

It said its Construction division, which books the bulk of group sales and which has made large writedowns in the United States and Poland in recent quarters, made additional writedowns in its U.S. operations of around 520 million crowns for cost overruns in a civil project due partly to delays. ($1 = 8.8935 Swedish crowns) (Reporting by Anna Ringstrom; editing by Niklas Pollard)

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