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LONDON (Alliance News) - Costain PLC confirmed Tuesday that full year trading is in line with expectations, as it formally welcomed its new chief.
In a statement ahead of its annual general meeting later on Tuesday, the infrastructure services firm explained trading was "in line" and that it "remains confident in the future".
Following the AGM, Chief Executive Officer Andrew Wyllie will retire as boss to be replaced by Costain Natural Resources Managing Director Alex Vaughan.
In March, Costain had said Wyllie would retire as Costain chief at the end of the AGM ahead of leaving the company entirely on September 6. Wyllie - boss at Costain for 14 years - is retiring in order to pursue a "non-executive career".
New CEO Vaughan has been at Costain since 1992.
Shares in Costain were 0.6% higher at 327.00 pence on Tuesday.
