Costain's record order book revealed

UK Contractor Costain has produced a third quarter management statement reporting a “robust financial performance."

The company said its performance was in-line with board expectations, through following a strategy focusing on its full portfolio of operations in the energy, water and transport sectors.

It has reported a record forward order book of £3.3 billion (€4.2 billion) in upcoming projects.

These include a major series of works with Southern Water over the next five years, two motorway schemes on the M1 for the Highways Agency and an upgrade of Dimlington gas terminal for Perenco.

The company has also been appointed by BAE systems as a contractor for the redevelopment of its submarine site at Barrow-in-Furness, Cumbria, UK. For next year alone, it has secured more than £900 million (€1,15 billion) in revenues.

Costain said that it had produced considerable success in repeat business from existing customers, which meant its outlook for 2015 was one of further growth for the medium-term.