Costain, the smart infrastructure solutions company, has revealed that it continues to perform well and expects to deliver full-year results in line with the Board’s expectations
This year Costain has made further progress on its strategy of transforming the group into the UK’s leading smart infrastructure solutions company. Costain is distinguishing itself through its long-term strategic relationships and integrated technology-enabled services necessitated by the increasingly complex and fast-changing nature of its clients’ requirements.
The group has finished the year with an order book at a record level of £4.2bn, reflecting Costain’s market position with its target clients who are consolidating their supply chains to deliver increasingly large, multi-billion pound investment programmes underpinned by regulatory commitments.
In addition, Costain’s preferred bidder position stands at c £600m.
The group finished the year with a strong net cash position of over £110m, in line with expectations, with the reduction from last year’s exceptionally high level due to the timing of receipts in that period. Throughout the year the group had a positive net cash position with an average month-end net cash balance of c £77m.
Andrew Wyllie CBE, chief executive, said: “This has been another year of progress for Costain. The benefits of our integrated offering, long-term strategic relationships with our clients and strong balance sheet position us well for the future and the significant opportunity we see across our rapidly-changing end markets.”
