Veidekke’s revenues and profits up

Norwegian-based Veidekke has recorded revenues of NOK8.1 billion (€880 million) in the second quarter of 2016 – a rise of 31% on the same period a year ago.

The company also saw a rise of 30% in its profits to NOK450 million (€48.74 million), compared to the second quarter of 2015.

Arne Giske, CEO at Veidekke, said, “Strong efforts in all our units combined with good markets have given Veidekke a solid quarter.

“We have seen strong growth and improved the margins in our construction operations. We have made progress in all countries, with Norway as the most important driver.”

He added that in its property development operations, high demand and strong interest in its projects had resulted in strong sales in Norway and Sweden, with its residential production increasing 61% compared with the same quarter in 2015.