Trading Update - 25 June 2015
25 June 2015
Costain, the engineering solutions provider, today issues a trading update ahead of its interim results for the six months ended 30 June 2015.
The Group remains on course to deliver a result for the year in line with the Board’s expectations.
Further new contracts and extensions were secured during the first half of the year as Costain continues to provide innovative and integrated services to customers meeting critical national needs in energy, water and transportation.
Contract awards include the development of the M4 corridor around Newport for the Welsh Government; the underground link between the Crossrail and Bakerloo Line platforms at Paddington station; and two sections of the A14 improvement scheme for Highways England.
The order book has increased to a record level of £3.7 billion (30 June 2014: £3.2 billion), up from £3.5 billion at 31 December 2014. The long-term strategic relationships which Costain holds with its customers are demonstrated by the fact that over 90% of the order book comprises repeat orders.
In addition, Costain maintains a strong preferred bidder position of over £500 million, and tendering activity remains high.
Costain will announce interim results for the six months ended 30 June 2015 on Thursday 20 August 2015. There will be a presentation to analysts at 9:30am that morning at the offices of Instinctif Partners, 65 Gresham Street, London EC2V 7NQ.
Costain - Tel: 01628 842 444
Andrew Wyllie CBE, Chief Executive
Tony Bickerstaff, Finance Director
Catherine Warbrick, Investor Relations Director
Graham Read, Communications Director
Instinctif Partners - Tel: 020 7457 2020