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Company Costain Group PLC
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Trading Update

Released 07:00 04-Jan-2013
Number 8290U07

RNS Number : 8290U
Costain Group PLC
04 January 2013
 



Costain Group PLC

("Costain" or "the Group" or "the Company")

 

Pre-Close Trading Update

 

Costain, one of the UK's leading engineering solutions providers, will announce preliminary results for the year ended 31 December 2012 on Wednesday 6 March 2013, and is issuing a trading update ahead of entering its Close Period. 

 

Trading Update

 

Since the announcement of the Group's Interim Management Statement on 6 November 2012, Costain continues to perform well and consequently finished the year in line with the Board's expectations.

 

As a result of new orders and contract extensions the Group finished the year with a high quality Order Book of £2.4 billion (2011: £2.5 billion) of which over 90% is repeat orders, providing good long-term visibility. In excess of £700 million of work has been secured for 2013 (2011: in excess of £650 million secured for 2012).  

 

In addition, Costain has a strong preferred bidder position of over £400 million.

 

The Group finished the year with a strong cash position and no significant borrowings.

 

Andrew Wyllie, Chief Executive, commented:

 

"Costain continues to be successful by focusing on meeting the increasingly integrated service requirements of major customers. Utilising a partnership approach, the Group provides innovative and cost effective solutions to complex and large-scale customer requirements through its consulting, project delivery and operations and maintenance capability."

 

4 January 2013

 

 

 
Enquiries:

 

Costain

   Tel: 01628 842 444

Andrew Wyllie, Chief Executive


Tony Bickerstaff, Finance Director


Graham Read, Communications Director




College Hill

Tel: 020 7457 2020

Mark Garraway                                                                


Helen Tarbet


 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Trading Update - RNS