The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksCostain Share News (COST)

Share Price Information for Costain (COST)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 80.20
Bid: 80.00
Ask: 81.60
Change: -2.40 (-2.91%)
Spread: 1.60 (2.00%)
Open: 82.40
High: 82.80
Low: 80.20
Prev. Close: 82.60
COST Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Costain wins contract with Northumbrian Water, FY net cash ahead of expectations

Wed, 10th Jan 2024 08:17

(Sharecast News) - Construction and engineering company Costain announced on Wednesday that it has been appointed by Northumbrian Water to shape, create and deliver its strategic infrastructure upgrade programme.

Costain stated the framework will see it awarded with contracts with a potential value of up to £670.0m over 12 years, with the group working with both NWG and its partners. The contract starts immediately and will run for a seven-year initial term with an option for a five-year extension.

The London-listed group also noted that it has had "a positive trading year" in 2023 and expects to deliver adjusted operating profits in line with market expectations. As a result, and reflecting an increase in financial income compared to 2022 and strong working capital management, Costain has ended 2023 with a net cash position of £164.4m, significantly higher than market expectations of £128.6m.

Chief executive Alex Vaughan said: "This contract win not only reflects our continued growth in the water sector, but it also reinforces our commitment to improving critical infrastructure in the North-East of England. This includes major upgrades to the region's highways and our carbon capture work in Teesside as part of the East Coast Cluster, generating opportunities for regional suppliers and employment for local people.

"We are also pleased to report that we have had a positive trading year and expect to deliver adjusted operating profit in line with market expectations. Our cash performance has been very strong, driven by continued improved operational performance, an increase in financial income compared to 2022, and ongoing positive working capital timings."

As of 0920 GMT, Costain shares were up 5.89% at 66.29p.

Reporting by Iain Gilbert at Sharecast.com

More News
2 Mar 2022 16:02

UK earnings, trading statements calendar - next 7 days

Thursday 3 March 
Admiral Group PLCFull Year Results
Avation PLCHalf Year Results
Coats Group PLCFull Year Results
CRH PLCFull Year Results
Darktrace PLCHalf Year Results
Dotdigital GroupFull Year Results
Elementis PLCFull Year Results
Empiric Student Property PLCFull Year Results
Entain PLCFull Year Results
Franchise Brands PLCFull Year Results
Galliford Try Holdings PLCHalf Year Results
Hansard Global PLCHalf Year Results
Hutchmed (China) LtdFull Year Results
ITV PLCFull Year Results
London Stock Exchange Group PLCFull Year Results
Meggitt PLCFull Year Results
Melrose Industries PLCFull Year Results
Mondi PLCFull Year Results
PageGroup PLCFull Year Results
Poolbeg Pharma PLCHalf Year Results
Rentokil Initial PLCFull Year Results
Schroders PLCFull Year Results
Spire Healthcare Group PLCFull Year Results
Synthomer PLCFull Year Results
Taylor Wimpey PLCFull Year Results
Tritax Big Box REIT PLCFull Year Results
Tyman PLCFull Year Results
Friday 4 March 
FBD Holdings PLCFull Year Results
Hammerson PLCFull Year Results
Morgan Advanced Materials PLCFull Year Results
Monday 7 March 
Blackbird PLCFull Year Results
Downing Renewables & Infrastructure Trust PLCFull Year Results
HgCapital Trust PLCFull Year Results
MTI Wireless Edge LtdFull Year Results
Tuesday 8 March 
Ashtead Group PLCQ3 Results
Bakkavor Group PLCFull Year Results
Capital & Regional PLCFull Year Results
Capricorn Energy PLCFull Year Results
Clarkson PLCFull Year Results
ConvaTec Group PLCFull Year Results
Direct Line Insurance Group PLCFull Year Results
Domino's Pizza Group PLCFull Year Results
Engage XR Holdings PLCFull Year Results
Fresnillo PLCFull Year Results
Glenveagh Properties PLCFull Year Results
Greggs PLCFull Year Results
Gresham Technologies PLCFull Year Results
H&T Group PLCFull Year Results
IWG PLCFull Year Results
John Menzies PLCFull Year Results
John Wood Group PLCFull Year Results
Johnson Service Group PLCFull Year Results
Keller Group PLCFull Year Results
M&G PLCFull Year Results
Made.com Group PLCFull Year Results
Midwich Group PLCFull Year Results
Robert Walters PLCFull Year Results
Wednesday 9 March 
888 Holdings PLCFull Year Results
Alfa Financial Software Holdings PLCFull Year Results
Biffa PLCFull Year Results
Breedon Group PLCFull Year Results
Costain PLCFull Year Results
Foresight Solar Fund LtdFull Year Results
Headlam Group PLCFull Year Results
Ibstock PLCFull Year Results
Kier Group PLCFull Year Results
Legal & General PLCFull Year Results
Network International Holdings PLCFull Year Results
Prudential PLCFull Year Results (at 0400 GMT)
Quilter PLCFull Year Results
Somero Enterprises IncFull Year Results
STV Group PLCFull Year Results
TClarke PLCFull Year Results
TT Electronics PLCFull Year Results
Tullow Oil PLCFull Year Results
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

Read more
24 Feb 2022 21:57

TRADING UPDATES: Enwell shuts down operations; i3 ups oil production

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
4 Feb 2022 13:42

IN BRIEF: Hercules Site Services up 5% on AIM debut; gears up for HS2

IN BRIEF: Hercules Site Services up 5% on AIM debut; gears up for HS2

Read more
2 Feb 2022 12:18

LONDON MARKET MIDDAY: FTSE leads way as stocks rise ahead of ECB, BoE

LONDON MARKET MIDDAY: FTSE leads way as stocks rise ahead of ECB, BoE

Read more
2 Feb 2022 08:54

LONDON MARKET OPEN: Ocado, Auto Trader and Vodafone boost FTSE 100

LONDON MARKET OPEN: Ocado, Auto Trader and Vodafone boost FTSE 100

Read more
1 Feb 2022 14:01

IN BRIEF: Hercules Site Services to raise 20% less than hoped from IPO

IN BRIEF: Hercules Site Services to raise 20% less than hoped from IPO

Read more
20 Jan 2022 15:17

IN BRIEF: Construction labour firm Hercules Site Services sets AIM IPO

IN BRIEF: Construction labour firm Hercules Site Services sets AIM IPO

Read more
14 Dec 2021 11:15

SMALL-CAP WINNERS & LOSERS: Stagecoach up on National Express deal

SMALL-CAP WINNERS & LOSERS: Stagecoach up on National Express deal

Read more
13 Dec 2021 17:05

LONDON MARKET CLOSE: Stocks sink ahead of central bank bonanza

LONDON MARKET CLOSE: Stocks sink ahead of central bank bonanza

Read more
13 Dec 2021 12:24

Costain tips annual profit in line; falls on National Grid pact blow

Costain tips annual profit in line; falls on National Grid pact blow

Read more
13 Dec 2021 11:19

Liberum hails Costain's "bulging" order book amid National Grid blow

Liberum hails Costain's "bulging" order book amid National Grid blow

Read more
13 Dec 2021 10:58

SMALL-CAP WINNERS & LOSERS: Costain falls amid National Grid grief

SMALL-CAP WINNERS & LOSERS: Costain falls amid National Grid grief

Read more
28 Sep 2021 14:12

EXECUTIVE CHANGES: Ince has new chair; Serica taps ex-Premier Oil exec

EXECUTIVE CHANGES: Ince has new chair; Serica taps ex-Premier Oil exec

Read more
6 Sep 2021 12:06

LONDON MARKET MIDDAY: Stocks rise as poor US nonfarms ease taper fear

LONDON MARKET MIDDAY: Stocks rise as poor US nonfarms ease taper fear

Read more
25 Aug 2021 11:00

SMALL-CAP WINNERS & LOSERS: Costain sinks as dividend remains absent

SMALL-CAP WINNERS & LOSERS: Costain sinks as dividend remains absent

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.