Interim management statement says order book strong and outlook positive

Costain has said a £2bn order book and a strong pipeline will help see it through the global financial crisis of the coming months.

In an interim management statement, the UK-based contractor said it has maintained its record half-year order book of £2bn with recent contract wins worth more than £200m.

Costain now has more than £600m of work on its book for 2009, and said that with a strong cash position and no significant borrowings, it is well placed to see through the recession expected to prevail over the next year.

The statement said: “"The group's strategic focus has provided Costain with a resilient platform in the current uncertain environment and the board remains confident that the outcome for 2008 will be in line with its expectations.”