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.
Subscribe to 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
-
The year trust became the currency in the art marketOpinion Collectors looking for accountability are turning to smaller dealers, says Sarah Ryan of New Blood Art
-
FCA could lift ban on crypto ETNs for UK retail investorsSome hope that the consultation could lead to a lifting of the ban on crypto ETF sales in the future
