An interim report from one of Finland’s largest construction company’s SRV shows declining profit margins and building levels in 2018. The first 3 months of 2018 saw a 3.6 percent decrease in revenue, down from €223.7 million to €215.7 million. Housing construction has risen during this period, but in 2018 the company anticipates it will build just 526 housing units, down on the 782 completed in 2017. As well as reduced revenues, the period also saw a rise in material and labor costs, reducing operating profits to €5.1 million. In 2017, during the complete year, SRV saw revenues of over €1.1 billion and an operating profit of €27 million. Despite this year’s slowdown, the company still expects to reach its 2022 strategic earnings targets.
