Peab records strong half-year

Swedish-based Peab has recorded half-year revenues of SEK21.5 billion (€2.26 billion) – an increase of 5% year-on-year.

The company also saw its profits rise 19.7% compared to same period a year ago to SEK812 million (€85.72 million).

On a quarterly basis, Peab’s revenues rose 11.6% for the second quarter of 2016 to SEK12.8 billion (€1.35 billion), while its profits rose 23% year-on-year to SEK624 million (€65.88 million).

Jesper Göransson, CEO at Peab, said, “Our business model with four complementary business areas, which all have stable development and profitability, gives Peab a good position in the current market.

“A positive second quarter has led to improvements in the form of higher net sales and margin for the first half-year. Greater order backlog with longer production time, a well-dimensioned development rights portfolio, positive market forecasts and a strong financial position spells good conditions for Peab in the coming years.”