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Mon September 28 2020

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Costain's order book grows to £2.6bn

7 Nov 11 Costain's forward orderbook has swelled to £2.6bn, the firm announced in an interim management statement today.

The firm has secured further major contract awards during the last quarter, including the award by Network Rail of the London Bridge Station contract.

Costain now has secured in excess of £600 million revenue for 2012, plus over £1.8 billion of revenue secured for 2013 and beyond. The balance of the order book is for the remainder of 2011.

The contractor is also at preferred bidder stage on £400 million of contracts.

In the statement, the firm said: “Costain continues to benefit from its 'Choosing Costain' strategy of focussing on targeted blue chip customers in chosen sectors whose major spending plans are underpinned by strategic national needs, regulatory commitments or essential maintenance requirements.

“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.”

Costain added that the integration of Promanex, an industrial support services business operating in the energy sector, acquired in August, was “progressing well”. The integration of Clerk Maxwell, the engineering and operations support services provider operating in the upstream oil and gas sector it acquired earlier in the year, “is complete”.

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