Engineering solutions provider Costain has issued a trading update ahead of its results for the six months ended 30 June 2016 which will be announced on 24 August 2016.
Costain said trading during the first half has been strong and the Group is on course to deliver a result for the year in line with the Board’s expectations.
The Group has maintained its record order book which, at £3.9 billion, is also over 5% higher than the £3.7 billion recorded at 30 June 2015. Repeat orders continue to represent more than 90% of the order book – Costain said this reflects the strength of long term relationships with its customers.
The Group also has a preferred bidder position of over £400 million and tendering levels remain high.
Costain commented:
“The Group’s unique and focused ‘Engineering Tomorrow’ strategy has successfully positioned the business to provide the range of innovative integrated services demanded by its major customers who are spending billions of pounds on projects, underpinned by legislation and regulation in the UK, upgrading and renewing the country’s energy, water and transportation infrastructures.”
The Group is involved in a number of Tier 1 Alliances helping to deliver the water sector’s £44 billion-plus AMP6 2015-20 investment programme.
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