Charles McCole will leave company later in the year as contractor says results will be in line with expectations.
Contractor Costain’s finance director Charles McCole is to leave the company, it was announced this morning.
In a trading update ahead of preliminary results, the group announced that McCole would be leaving later this year.
It said: “Charles McCole, finance director, has notified the board that he wishes to pursue new opportunities in the future and does not feel able to give a long term commitment to the company."
The statement said that Costain's results would be in line with expectations. It said that as at 31 December 2005, the group had a record forward order book of £1.9bn.
Chief executive Andrew Wyllie undertook a recent business review which has confirmed that the overall result for the year will be in line with the board's expectations at the time of the interim results announcement in September.
Wyllie said: “My initial review confirms that Costain is a business with a strong brand, a high-quality team and a very strong order book.
"Costain has an excellent quality and visibility of earnings going forward which, when coupled with our actions will help achieve the new objective of double-digit growth in both volumes and profitability over the next three years."
Costain said the year had seen significant contract wins in water and roads and a number of the five year framework water contracts have the option of being extended by a further five years.
