Skanska in rude health with 44% turnover hike

Skanska UK's turnover in the first half of 2007 jumped by 44% to £610m.

Operating profit (six months to 30 June 2007) ran to £16m, down on the comparable figure of £20m in 2006, although last time round there was a £5m windfall - an exceptional item resulting from the return of PFI bid costs on the Barts & London New Hospitals Redevelopment scheme.

David Fison, chief executive, said: "We are exactly where we want to be. Project performance is good, which means our clients are happy, our supply chain is happy and we are happy.

"That, in turn, is delivering excellent new awards and the quality of our future pipeline of work has never been better."

Work at Barts is progressing well. Main piling works, pile cap and basement slab construction are all in progress, while at the Royal London, demolition and piling are complete and slip forming for the three towers is progressing well.

The project has recently achieved one million man-hours without a reportable accident.

In Coventry, the Walsgrave PFI hospital team have completed all main construction work for the new 1,250-bed acute hospital and operations have moved on to building the car park.

In Bristol, work to deliver four new schools under the UK's first Building Schools for the Future programme has reached the point where the first, Bristol Brunel Academy, is about to be handed over in time for the start of the new school term in September.