Costain’s stable 2012

Against a backdrop of challenging economic conditions, UK contractor Costain reported a year-on-year drop in revenues but slight rise in underlying operating profit for 2012.

Revenues stood at £935 million (€1.1 billion) for 2012, compared to £986 million (€1.1 billion) in 2011, while underlying operating profit amounted to £25 million (€29 million) last year, compared to £24 million (€28 million) the year before.

The order book stood at £2.4 billion (€2.8 billion) at the end of 2012, compared to £2.5 billion (€2.9 billion) at the same point in 2011.

Costain chairman David Allvey said the company had delivered a strong performance.

“Our progress in recent years, despite challenging economic conditions, is a reflection of the group’s strategic focus on meeting the complex needs of customers by ensuring that Costain provides integrated consulting, project delivery and operations and maintenance capability.”

Mr Allvey said the company would continue to grow its business organically and by acquisition.