Costain confident of further growth following record orders

CostainCostain has announced another strong performance with increases in revenue and underlying operating profit, a record order book and a recommended final dividend of 6.25 pence per share.

The engineering solutions provider managed to deliver a 5 per cent uplift in underlying profits to £29 million last year while turnover at the firm broke through the £1 billion mark again. A strong recovery in major project orders lifted sales 17 per cent to £1.12bn.

Chairman David Allvey said the firm was well placed for growth this year with a record order book of £3.5bn compared to £3bn in 2013 and strong net cash reserves of £148.5m following a £70m share issue last March.

He said: “We have delivered another strong performance, with increases in revenue and underlying operating profit and an enhanced net cash position.

“Costain has an established reputation for innovative multi-disciplined services that enables the group to win large, long-term contracts addressing the UK’s national needs in energy, water and transportation.

“This strong market position and the additional capital secured during the year is enabling the group to accelerate its growth, as demonstrated by a record order book of £3.5bn.”

Share icon
Share this article: