Peab results increase across the board

Swedish contractor Peab has recorded year-on-year increases across the board for the first nine months of 2016.

The company’s revenues were up 1.77% year-on-year to SEK32.7 billion (€3.32 billion), while its operating profit increased 12.7% to SEK1.43 billion (€145.55 million).

Jesper Göransson, CEO, Peab, said the company’s business model gave it a solid position in the market.

He said, “The improved profit in the third quarter stems from a strong result in industry and housing development while the rest of the business shows stable results.

“Market forecasts indicate a continued strong economy. Our order situation, development rights portfolio and a strong financial position spells good conditions for our work in the coming years.”

Peab’s order backlog has also increased 22.1% to SEK34.28 billion (€3.4 billion).