Net profit rose to 1.4 billion dirhams (about $381 million), boosted by a 40% jump in revenue to 4.4 billion dirhams. The profit beat an average analysts estimate of 805 million dirhams, according to LSEG data.
Skanska in January warned it would in the quarter book 2 billion crowns worth of impairments and value changes across its property development operations due to weak markets, in particular within U.S. commercial real estate development.