Peab’s revenues increase

Swedish-based contractor Peab has recorded revenues of SEK32.1 billion (€3.4 billion) for the first nine months of the year – an increase on the SEK31.6 billion (€3.3 billion) recorded for the same period last year.

However, the company saw its profit fall to SEK1.27 billion (€136.3 million), down from SEK1.29 billion (€138.5 million) for the same nine months in 2014.

The company said its operating profit has risen in the third quarter, excluding one-off effects in its project development business area the previous year.

Jesper Göransson, CEO and president, said, “A lower level of debt due to our strong cash flow, has led to further improvements in Peab’s result through reduced interest costs.

“A higher level of orders received, a positive market and a stronger financial position provides us with the right platform to build on.”