NCC Fourth-Quarter Profit Declines After Company Closes a Unit

NCC AB (NCCA), Sweden's second-largest construction company, said fourth-quarter profit dropped 8 percent after the company shut down a unit that built apartments from factory produced modules.

Net income dropped to 542 million kronor ($84 million), or 5 kronor a share, from 589 million kronor, or 5.43 kronor, a year earlier, Stockholm-based NCC said today in a statement. Sales slipped 3.5 percent to 17.3 billion kronor. Analysts surveyed by SME Direkt predicted profit of 292 million kronor on sales of 17 billion kronor.

To contact the reporter on this story: Diana ben-Aaron in Helsinki at dbenaaron1@bloomberg.net

To contact the editor responsible for this story: Andrew Noel at anoel@bloomberg.net

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