Swedish construction company Skanska AB says second-quarter net profits tumbled as sales figures experienced a steep fall due to the lingering effects of weak order bookings during the height of the global financial crisis, according to AP. Second-quarter net profits amounted to 930 million kronor ($126 million) in Friday's report, down from 1.67 billion in the same three months last year. Revenues, which were the biggest reason for the plunge, came to 30 billion kronor from 37.7 billion kronor in the corresponding quarter in 2009. Skanska says it is still feeling the effects of weak order bookings in 2008 and 2009. Still, the Stockholm-headquartered group expects second-half revenues in local currencies to be on the same level as in the same period in 2009.
