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3 Jul 2018 07:00
Costain Group PLC
("Costain" or "the Group" or "the Company")
Half Year Trading Update
3 July 2018
Costain, the smart infrastructure solutions company, today issues a trading update ahead of announcing results for the six months ended 30 June 2018 on 22 August 2018.
The Group has continued to perform well during the first half and remains on course to deliver results for the year in line with the Board's expectations.
Costain continues to evolve in a market where technology and innovation across infrastructure are creating a wide range of exciting new opportunities. This is evidenced by the number of recent technology contract wins, including the M6 J21a-26 smart motorway contract and Motorway Incident Detection and Automated Signalling (MIDAS) technology systems contract for Highways England. Costain also recently announced its planned expansion to a new enlarged technology centre in Somerset.
As at 30 June the order book stood at £3.7 billion (30 June 2017: £3.7 billion). The Group also has a preferred bidder position of c £400 million and tendering levels remain high. The Group has a strong balance sheet, finishing the period with a net cash position of c £75 million (30 June 2017: £87.5 million), reflecting timing of receipts. The average month-end net cash was c £90 million in the period (2017: £97.3 million).
Enquiries:
Costain | Tel: 01628 842 444 |
Andrew Wyllie CBE, Chief Executive | |
Tony Bickerstaff, Chief Financial Officer | |
Catherine Warbrick, Investor Relations Director | |
Sara Lipscombe, Group Communications Director | |
Instinctif | Tel: 020 7457 2020 |
Mark Garraway | |
James Gray |
Notes to Editors
Costain helps to improve people's lives by deploying technology-based engineering solutions to meet urgent national needs across the UK's energy, water and transportation infrastructures. We have been shaping the world in which we live for the past 150 years.
The Group's 'Engineering Tomorrow' strategy involves focusing on blue chip clients in chosen sectors whose major spending plans are underpinned by strategic national needs, regulatory commitments or essential maintenance requirements.
Costain's 4,100 people, who are committed to high performance and safe delivery, are working on a number of high profile contracts in the UK incorporating a broad range of innovative services across the whole life-cycle of our clients' assets and does so through the delivery of consultancy, technology, asset optimisation and complex delivery services.
For more information visit www.costain.com
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