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Builder Skanska's Q1 profit falls less than expected

Reuters
·1-min read
Sixth Street Viaduct replacement project in Downtown Los Angeles

STOCKHOLM (Reuters) - Skanska posted on Wednesday a drop in quarterly profit that was smaller than expected and said indirect effects on the group from the war in Ukraine would include cost inflation, material shortages, and potentially postponed projects.

First-quarter operating profit at the Nordic region's largest builder, and one of the biggest in the United States, was 1.85 billion Swedish crowns ($187.2 million) against a year-ago 2.33 billion. Four analysts polled by Refinitiv had on average estimated a profit of 1.55 billion crowns.

($1 = 9.8813 Swedish crowns)

(Reporting by Anna Ringstrom; Editing by Simon Johnson)