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Thu March 28 2024

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Costain maintains healthy order book

5 Jan 17 Although Costain ended 2016 with an order book no bigger than it started the year, at £3.9bn it remains at a record high for the company.

Costain chief executive Andrew Wyllie
Costain chief executive Andrew Wyllie

This time last year, Costain had £1.1bn revenues secured for the year ahead; for the start of 2017, the figure is £1.2bn. And it starts the year with a net cash position of more than £100m. 

Costain will post its full 2016 results in March, but in a trading update it said that it expects them to be in line with the board’s expectations.

Total headcount at the year-end was more than 4,100, of whom more than 1,200 are in advisory, technology and design service roles.

Among new contract awards is a place on Transport for London's £500m surface transport major projects framework, along with two other contractors, which runs for four to six years.

Chief executive Andrew Wyllie said: “Costain has had another strong year. Our customers are undertaking substantial investment addressing urgent national needs and we are looking forward to the future with confidence.”

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