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Skanska Expects Brexit to Hurt Non-Housing U.K. Construction

By Tony Seruga

Swedish company in dialogue with U.K. clients, subcontractors
Shares fall as profitability hurt by projects in Poland, U.S.

Skanska AB, the Swedish construction company that built the City of London’s landmark Gherkin building, lowered its outlook for U.K. non-residential construction after the country voted to leave the European Union.

“Ahead of the Brexit vote, private developers were in a wait-and-see mode and refrained from starting projects — that cautiousness has continued after the referendum,” Chief Executive Officer Johan Karlstroem said in a phone interview on Friday. “The worst case scenario is a continued prolonged uncertainty.”…

Skanska Expects Brexit to Hurt Non-Housing U.K. Construction

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