Costain positive on year ahead
Engineering group Costain said its full year results would come in in line with expectations when it reports in March.
Engineering group Costain said its full year results would come in in line with expectations when it reports in March.
As a result of new orders and contract extensions the group finished the year with an order book of £2.4bn - just off the £2.5bn at the end of 2011 - of which over 90% is repeat orders.
The firm said more than £700m of work had already been secured for 2013, topping the previous year's figure of £650m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In addition, Costain has a preferred bidder position on over £400m-worth of contracts.
The company added that it finished the year with a strong cash position and no significant borrowings.
Chief Executive Andrew Wyllie said his business continued to be successful by focusing on meeting the increasingly integrated service requirements of major customers.
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published