Engineering and construction group reports £10m profit and order book at record level

Costain today announced a strong interim performance, with first-half profit up by 26%.

The engineering and construction group made a pre-tax profit of £10.1m in the six months ending 30 June 2008, compared with £8.0m profit in the first half of 2007.

Turnover rose to £467.5m, up from £430.0m during the same period a year earlier.

The group's order book increased by 25% to a record £2.0bn, with around £900m of new work secured in the first half of 2008. New UK infrastructure projects included Farringdon station as part of the Thameslink project, and the A14 highway development in Cambridgeshire.

David Allvey, chairman of the group, said that despite the economic environment he was confident the company's “targeted blue-chip customers” would continue with their investment programmes.

“Costain is in a good position to continue to deliver growth in line with our expectations,” he added.