Swedish construction company Skanska AB on Thursday said net profit for the fourth quarter rose 48 percent, partly due to improved margins in practically all markets. The company said fourth-quarter profit increased to 1.24 billion kronor (US$193 million, ¤131 million) from 836 million kronor in the same period a year ago. Earnings for the full year totaled 4.1 billion kronor (US$637 million ¤434 million), up from 3.64 billion kronor in 2006. Margins in the construction business increased in practically all markets, Skanska said. Revenue for the fourth quarter rose to 38.4 billion kronor (US$5.97 billion, ¤4.07 billion) from 34.8 billion kronor in the same period 2006, the Associated President reported. Skanska earlier Thursday said it has decided to appoint Johan Karlstrom as new president and chief executive officer as of April 3.
