Builder Skanska’s profit beats forecasts

STOCKHOLM – Sweden’s Skanska reported on Thursday a quarterly profit above market expectations, and said market activity in construction had picked up gradually during the year.

Fourth-quarter operating profit at the Nordic region’s largest builder, and one of the biggest in the United States, was 3.63 billion Swedish crowns ($393.9 million) against a year-ago 6.59 billion.

Five analysts polled by Refinitiv had on average estimated a profit of 2.85 billion crowns.

($1 = 9.2161 Swedish crowns)

(Reporting by Helena Soderpalm; editing by Niklas Pollard)