Chief executive Andrew Wyllie says focus on “blue chip” customers is yielding results
Costain has reported that it has already secured £750m of work for 2014, an increase from the £700m of work it secured for 2013 at the start of last year.
In a statement to the City the firm also said it had acquired the remaining 27% share of its Manager Motorway Technology joint venture from its partner Serco for £2.4m, bringing it completely within Costain’s control.
Chief executive Andrew Wyllie said: “We are delighted to finish the year with a very strong order book.
“Our continued success is the direct result of our focus on delivering innovative engineering solutions for blue chip customers who are investing in meeting national needs.”
The firm reported that it had a “strong preferred bidder position” on contracts worth over £400m. It added: “The level of tendering activity across the Group’s targeted markets remains high.”
Repeating an announcement from November 2013, Costain also reported its order book had grown 25% from £2.4bn at the end of 2012 to £3bn at the end of 2013.