Pre-Close Trading Update - 26 June 2014
26 June 2014
Costain, one of the UK's leading tier one engineering solutions providers, today issues a pre-close trading update ahead of its interim results for the six months ended 30 June 2014, which will be announced on Thursday 21 August 2014.
Costain remains on course to deliver a result for the year in line with the Board’s expectations.
During the first half of the year Costain has won major new contracts and extensions as it continues to implement its ‘Engineering Tomorrow’ strategy, delivering innovative solutions to the UK’s most crucial and complex infrastructure needs.
Awards announced in the period include appointment to the Network Rail £2bn National Electrification Programme; the Crossrail North East Spur contract for Network Rail; appointment to three transmission frameworks with National Grid and a further Barrow Gas Terminals contract with Centrica.
As a consequence, the forward order book has increased to a record level of £3.2 billion from £3.0 billion as at 31 December 2013. The reputation which Costain holds amongst its customers is demonstrated by the fact that over 90% of the order book comprises repeat orders.
In addition, Costain continues to maintain a strong preferred bidder position of over £400 million. Currently, over £950 million of revenue has been secured for 2014.
The overall level of tendering activity across the Group’s targeted markets remains high.
Costain will announce its interim results for the six months ended 30 June 2014 on Thursday 21 August 2014. There will be a presentation to analysts at 9:30am that morning at the offices of Instinctif Partners, 65 Gresham Street, London EC2V 7NQ.
Tel: 01628 842 444
Andrew Wyllie, Chief Executive
Tony Bickerstaff, Finance Director
Graham Read, Communications Director
Tel: 020 7457 2020