Costain’s improved results

UK contractor Costain's revenues for 2014 were £1.1 billion (€1.5 billion), compared with £960 million (€1.3 billion) in 2013. The company’s underlying operating profit was also up, at £28.7 million (€39.8 million) for 2014, compared to £27.4 million (€38 million) in 2013.

It also reported a record order book, which stood at £3.5 billion (€4.9 billion) for 2014, compared with £3 billion (€4.2 billion) 12 months previously.

Its major contracts during the past year have included delivering Network Rail’s national electrification programme, as well as ongoing work on the Highways Agency’s £5 billion (€6.9 billion) collaborative delivery framework of UK motorway upgrade schemes.

Chairman David Allvey said that the company’s long-term projects in the energy, water and transport sectors had placed it in a positive position for growth in 2015.

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

“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.”