Costain results remain on target
By Ian Vallely10 January 2017
UK-based engineering solutions provider Costain expects to deliver full-year 2016 results in line with expectations, when they are announced in March.
Contract wins for Costain during the second half of last year included the High Speed 2 South enabling works, the Area 14 maintenance commission for Highways England, and the Peterborough and Huntingdon compressor station upgrade for National Grid.
As a result, the group’s order book at year-end was at a record level of £3.9 billion (€4.48 billion) and it increased revenue secured for 2017 to more than £1.2 billion (€1.38 billion).
The group finished the year with a net cash position of more than £100 million (€114.83 milllion) and reported a preferred bidder position at over £500 million (€574.10 million).
Headcount at year-end was more than 4,100, which includes over 1,200 now in advisory, technology and design service roles.
CEO Andrew Wyllie said, “Costain has had another strong year. Our customers are undertaking substantial investment addressing urgent national needs and we are looking forward to the future with confidence.”