Nordic Business Report-November 2, 2006-Veidekke ASA reports 9-month operating profit of NOK429.4m
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The Norwegian construction group Veidekke ASA reported on Thursday (2 November) an operating profit of NOK429.4m on operating revenues of NOK11.3bn for the financial period January-September 2006.
Both operating profit and revenues for the nine-month period increased, respectively from NOK409.8m and NOK10.6bn, as compared to the corresponding period in 2005.
Operating profit for the quarter July-September 2006 amounted to NOK247.8m on operating revenues of NOK4.0bn. Earnings per share (EPS) for the third quarter of 2006 amounted to NOK6.7.
In the property development area Veidekke is now planning for a volume of between 2,000 and 2,500 residential units for the group, with Sweden and Norway as the most important markets.
Veidekke anticipates continued growth in volume in the years ahead and said that it expects to employ some of its strong financial resources on strategic investments to strengthen capacity in the group.
Veidekke, based in Oslo, Norway, has some 5,500 employees in Norway, Sweden and Denmark, and reported a turnover of NOK14.6bn in 2005.
One British pound (GBP) is worth approximately 12.48 Norwegian kroner (NOK).
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