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Costain H1 revenue grows by 17% to £621.1m following infrastructure boost

Costain has grown both revenue and profit for the first half of 2015, boosted by a strong performance from its infrastructure division.

The group grew revenue for the six-month period by 17 per cent to £621.1m, from £529.1m in the same period last year.

Infrastructure accounted for the lion’s share of the growth, with revenue jumping from £358.7m in H1 2014 to £475.2m this time around.

The division benefited from securing new work from Highways England, including two out of three lots on the A14 programme.

Underlying profit was also 17 per cent up, from £11.2m to £13.1m. Pre-tax profit, meanwhile, was 25 per cent up, growing to £11.4m from £9.1m.

Costain’s order book was up 16 per cent to stand at, what the group described as “a record” £3.7bn at the year’s half-way point.

Costain chief executive Andrew Wylie said: “We have delivered another strong performance in the first half of the year. In addition to growth in revenue and profit, our order book now stands at a record £3.7bn.

“Costain has an established reputation for delivering innovative integrated services that enables the group to win large, long-term contracts addressing the UK’s national needs in energy, water and transportation.

“Costain is accelerating its growth and, following the 17 per cent increase in underlying operating profit in the first half of the year, is on course to deliver a result for the year at the upper-end of the board’s expectations.”

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