Contractor issues upbeat trading statement to the City


Costain’s orderbook rose by more than 20% in the first half of this year, the contractor today announced.

In a trading update to the City, Costain said its orderbook increased from £2.4 billion at the end of 2012 to £2.9 billion and said it had been awarded new contracts and extensions worth more than £900m.

Confirming that it is on course to meet a result for the year in line with its board’s expectations, Costain added that it continues to maintain a strong preferred bidder position of over £500 million and said that at the end of the first half of this year, over £850 million of revenue has been secured for 2013.

The group said in a statement: “Awards announced during the first half of the year include appointment to Thames Water’s AMP6 investment programme; the Hammersmith Flyover strengthening project as part of an early contractor involvement framework for Transport for London; and a contract to design, fit-out and commission the railway systems for Crossrail.”

Costain will announce interim results for the six months ended 30 June 2013 on Thursday 22 August.