MT Højgaard's revenue 12 per cent up

Revenue of DKK 4.3 billion in the first half of 2011 compared with DKK 3.9 billion in the same period last year.

Despite the market still being tough the volume of orders was DKK 9.1 billion DKK at the end of June. More than DKK 1 billion higher than the same time last year.

The revenue of the MT Højgaard Group was DKK 4.3 billion in the first six months of the year. That is 12% higher than in the corresponding period of 2010.

- The construction and civil engineering market is still characterised by an intense competition, even though we have seen a few more projects being brought into play by both public and private clients. This means that the pressure on prices seen in recent quarters has become a little less fierce, says MT Højgaard's President and CEO, Kristian May.

The Group's pre-tax profit was DKK -21 million in the first half of the year compared with DKK 25 million in the same period last year and DKK 100 million for the entire year of 2010.

A revenue of approx. DKK 9.5 billion is still expected for 2011 as a whole, and the pre-tax margin is expected to be unchanged around 1%.

Orders of more than DKK 9 billion

The volume of orders in Denmark's largest construction and civil engineering company totalled DKK 9.1 billion after the first six months of the year. At the same time last year it totalled DKK 8 billion.

MT Højgaard has a strong position in the market, and we are currently conducting negotiations for a number of new projects. Our competencies make our customers feel secure, and they know that they have a sound collaboration partner in MT Højgaard, says Kristian May.

The Group's equity amounts to DKK 1.5 billion corresponding to an equity ratio of 29%.