Half Year Trading Update
3 July 2018
Costain, the smart infrastructure solutions company, today issues a trading update ahead of announcing results for the six months ended 30 June 2018 on 22 August 2018.
The Group has continued to perform well during the first half and remains on course to deliver results for the year in line with the Board’s expectations.
Costain continues to evolve in a market where technology and innovation across infrastructure are creating a wide range of exciting new opportunities. This is evidenced by the number of recent technology contract wins, including the M6 J21a-26 smart motorway contract and Motorway Incident Detection and Automated Signalling (MIDAS) technology systems contract for Highways England. Costain also recently announced its planned expansion to a new enlarged technology centre in Somerset.
As at 30 June the order book stood at £3.7 billion (30 June 2017: £3.7 billion). The Group also has a preferred bidder position of c £400 million and tendering levels remain high. The Group has a strong balance sheet, finishing the period with a net cash position of c £75 million (30 June 2017: £87.5 million), reflecting timing of receipts. The average month-end net cash was c £90 million in the period (2017: £97.3 million).
Costain Tel: 01628 842 444
Andrew Wyllie CBE, Chief Executive
Tony Bickerstaff, Chief Financial Officer
Catherine Warbrick, Investor Relations Director
Sara Lipscombe, Group Communications Director
Instinctif Tel: 020 7457 2020