Contractor racks up record future work

Costain has said its quality forward order book had reached a record level of £2.7bn, up from £2.5bn at 30 June 2009.

The group has secured revenues of over £800m for 2010, substantially ahead of the position for 2009 at this time last year.

It said the rise was due to an extension to its five-year framework contract with United Utilities worth £170m, a £297m contractfor with Sellafield and joint venture for Bradford Schools PFI, which is valued at £230m.

In August the firm said it had entered the second half of the year with a net cash balance in excess of £100m and no significant borrowing.

It closed its defined benefit pension scheme to new members from 1 October following staff consultation.