SRV still awaits a revival in new construction
Construction company SRV managed to improve its performance despite the weak market conditions in the construction sector last year.
Construction company SRV reported an operational profit of 3.6 million euros for the last quarter of the previous year, up from 3.0 million euros from the same period a year earlier. The company's revenue also saw a 3% increase, totaling 215.8 million euros. According to CEO Saku Sipola, the increase in profit and revenue was attributed to higher-than-expected revenue from ongoing facility projects in the latter part of the year.
Despite these positive financial results, SRV indicates that the demand for new construction remains low. This presents ongoing challenges for the company as it seeks to navigate a sluggish market environment. The overall conditions in the construction sector have been weak, and companies are keenly watching for signs of recovery.
As SRV moves forward, it hopes for a revival in new construction activity, which is vital for sustaining long-term growth and profitability. The company is positioning itself to capitalize on potential market improvements, but the current landscape remains uncertain, necessitating cautious optimism in future forecasts.