Skanska UK broke through the 拢1bn-turnover barrier in 2007 despite going 拢41.5m into the red in the first six months of 2008 and parting company with its chief executive.

According to documents filed at Companies House this week, turnover at the Swedish-owned business rose 42% from 拢921m to 拢1.3bn last year. Pre-tax profit was down from 拢38.8m to 拢38m, and its margin fell from 4.2% to 2.9%.

A company statement said the performance was based on 鈥渞ecruiting a skillful workforce and previous project performance that has resulted in a number of contracts with repeat clients鈥�.

Turnover at Skanska鈥檚 construction arm accounted for 拢819m of turnover (up 22% from 拢668 in 2006) while its infrastructure division contributed 拢514m (up from 拢280m).

It is a different picture this year, owing to writedowns of almost 拢50m on problem PFI jobs. David Fison, the company鈥檚 chief executive, was replaced by Mats Williamson, who moved from his role as president of Skanska Sweden.

鈥� Norwest Holst subsidiary Weaver posted a pre-tax profit of 拢183,000 on a turnover of 拢29m in the last nine months of 2007. In the year to 31 March 2007 turnover was 拢42.3m and pre-tax profit 拢590,000.

Meanwhile, Mouchel has said the year ended 31 July 2008 was in line with expectations. The consensus forecast is a 拢40m pre-tax profit.

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