Trading update says ‘several significant contracts’ won in last six months have boosted bottom line
Costain has said it expects to report it has exceeded a key margin target for the year.
The contractor, in a trading update today, said its adjusted operating margin is expected to exceed its target of 4.5% in 2025.
The firm said its adjusted operating profit will be in line with previous consensus for expectations at £46.4m.
It said revenue in the second half of the year will be around £525m, similar to the figure in the first half of the year. This would give a total turnover figure of £1.05bn, compared to consensus expectations of £1.13bn.
Costain said it has secured “several signficnant contracts” since August, including a £1bn utilities delivery partner contractor for Sellafield, a decommissioning job at Trawsfynydd nuclear power station in Wales, worth.£70m and a place on the Eastern Highways Alliance framework contract. In November extended a project controls services contract with EDF for another five years – a job worth £75m.
The company’s 2025 results will be published on 10 March.
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