Costain on track as order book rises
Engineering solutions provider Costain said it continues to perform well and trading is in line with the board's expectations.
Engineering solutions provider Costain said it continues to perform well and trading is in line with the board's expectations.
The group's order book has increased to £2.6bn following the strong performance reported in the interim results in August. The figures includes the recently announced award by Network Rail of the London Bridge Station.
"As well as including in excess of £600m revenue for 2012, the order book also provides good long-term visibility with over £1.8bn of revenue secured for 2013 and beyond, the balance of the order book being for the remainder of 2011," Costain explained.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
Furthermore Costain said continues to have a strong preferred bidder position, which has been maintained at around £400m.
Otherwise there has been no material change in the financial position of the group. It has cash in excess of £100m and no significant borrowings.
Commenting on the future trading, the engineer said, "Whilst challenging market conditions are set to continue for the foreseeable future, the Board expects to report results for the year in line with its expectations."
--
cj
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Millions at risk of 'unnecessary' tax bill – how to shield your savingsMillions of Brits could be taxed on their savings interest this year as their savings interest exceeds the personal savings allowance. Are you at risk?
-
Savers will have to wait as long as 48 years to build a £1m cash ISA pot if allowance is cutChancellor Rachel Reeves is rumoured to be planning a cut to the cash ISA allowance in the Autumn Budget, making it harder for savers to build wealth. Will you still be able to build a £1 million cash ISA pot?
