‘Strong’ Costain

Costain is reporting “another strong performance” in its results for the first half of 2015, with increases in revenue and underlying operating profit, and a record order book.

The UK-based engineering solutions provider said its revenue increased to £621.1 million (€870.06 million) in the first half, from £529.1 million (€740.94 million) in the same period a year earlier. Its underlying operating profit was said to be up 17% to £13.1 million (€18.35 million) compared to a first half of 2014 figure of £11.2 million (€15.69 million).

Costain reported a record forward order book which was up 16% to £3.7 billion (€5.18 billion) from £3.2 billion (€4.48 billion) 12 months earlier. It said that over 90% of its order book comprised repeat orders.

It said it had a positive outlook for the full year of 2015 and confidence in the future.

Andrew Wyllie, chief executive, said, “We have delivered another strong performance in the first half of the year. Costain has an established reputation for delivering innovative integrated services that enables the group to win large, long-term contracts addressing the UK’s national needs in energy, water and transportation.

“Costain is accelerating its growth and, following the 17% increase in underlying operating profit in the first half of the year, is on course to deliver a result for the year at the upper-end of the board’s expectations.”