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Skanska UK made an operating profit of 拢35.1尘 in 2016, down 9% on 2015, on revenues up 17% at 拢1,678尘.

This equates to an operating margin of 2.1% 鈥� a figure that has been coming down steadily in recent years. It was 3.7% in 2012.

Skanska UK president and CEO Mike Putnam said: 鈥淚 am pleased to report a 17% per cent increase in revenue for 2016. Operating margin is still firmly in the top tier of the sector, despite a small decline as the result of a challenging business environment.鈥�

Contract highlights during 2016 included being chosen by Highways England to deliver the A14 Cambridge to Huntingdon road improvement scheme, worth 拢290m, and a 拢245m seven-year road maintenance contract for Devon County Council. It also won a 拢165m contract to improve Waterloo Station and a 拢60m contract with Great Ormond Street Hospital to build the Zayed Centre for Research into Rare Disease in Children.

鈥淎 鈥榖ook-to-build鈥� ratio of 107% is an increase on what we reported this time last year and our full pipeline of work for this year, including the full value of frameworks, is very healthy,鈥� said Mr Putnam. 鈥淭his clearly indicates a solid basis on which to build in 2017 and beyond.鈥�

Skanska also takes corporate social responsibility seriously. 鈥淚t is equally important to us that we deliver these results in a responsible way. Last year, we made good progress in all of our sustainability areas of health and safety, ethics, green, diversity and inclusion and corporate community investment,鈥� Mike Putnam added. 鈥淲e are focused on creating a more diverse and inclusive Skanska 鈥� with more diverse candidates on our shortlists. I am delighted that 35% of the people recruited last year were women. We are slowly but surely shifting the dials on diversity.鈥�