Veidekke Posts Strong Figures for Building and Heavy Construction
"We are very pleased with the way the Group is developing," says Veidekke's President and CEO Terje R. Venold. "Of course it's disappointing to see that the oil prices have had such a negative effect on our asphalt profits, but we are still the leading asphalt contractor and can boast some of the best results in the business."
The order books for the Building and Heavy Construction Divisions (excluding Industry Division) totalled NOK 3,413 million at the end of the third quarter, as against NOK 2,682 million at the end of last year and NOK 2,838 million at the same time last year. Orders-on-hand have reached a historic high, especially in the Building Division. Close regional cooperation has been established between Building and Heavy Construction, thus making it easier for us to offer our customers the full range of our expertise. The positive effect of this cooperation is already being realised in greater competitive strength and new contracts.
The Industry Division's profit of NOK 34.5 million was slightly weaker than for the same quarter last year (NOK 45.4 million). The Property Division posted a profit of NOK 6.3 million, which was better than the same period last year (NOK - 0.2 million).
"One of the things that pleases me most is to see results from our focus on creating value through interaction - both with our customers and between our divisions," says President and CEO Terje R. Venold. "In a number of contexts, we now see evidence that interaction with customers and between divisions and disciplines is enabling us to develop projects and opportunities that were often shelved in the past. I am confident that we will continue to see the fruits of our endeavours in this area in the years ahead," he adds.
A more detailed account can be found in the Board of Directors' report for the period ending 30 September 1999, which is enclosed with this press release.
For full report follow the enclosed link