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Costain reports record £3.2bn forward orders in trading update

Costain’s forward order book has hit £3.2bn with just under £1bn of work secured for this year, according to its latest trading update.

The contractor’s forward orders were up £200m from the £3bn reported as of 31 December 2013.

The figures were released in a pre-close trading update and come ahead of the firm’s interim results for the six months to 30 June 2014, which are due out in August.

Costain’s order book is underpinned by a number of high-profile jobs, including an £84m contract with Centrica Gas and a place on the Highways Agency’s £184m upgrade of the M60/M62 motorway.

Other wins reported for the period include its appointment to Network Rail’s £2bn National Electrification Programme, the Crossrail North East Spur contract for Network Rail and three transmission frameworks with National Grid.

Ninety per cent of the contractor’s forward order book is from existing clients, which the firm said was proof of the “reputation which Costain holds among its customers”.

A company statement said: “During the first half of the year Costain has won major new contracts and extensions as it continues to implement its Engineering Tomorrow strategy, delivering innovative solutions to the UK’s most crucial and complex infrastructure needs.”

The firm’s six-month interim results will be announced on 21 August 2014. 

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