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Costain trades in line after £1bn of work secured for 2010

Costain said today that it is trading inline with expectations after £1 billion of contract wins for 2010 pushed its order book up to £2.5bn.

In addition to the current £2.5bn order book, the firm has reached preferred bidder status on a further £500 million of work. It also has £100m of net cash in the bank.

In a statement to the Stock Exchange today the firm said: “The group’s operations continue to benefit from its strategy to focus on targeted blue chip customers whose major spending plans are underpinned by strategic national needs, regulatory commitments or essential maintenance requirements in chosen sectors.

“In this regard, it is encouraging that the Government has recently reiterated its commitment to maintain investment in key major infrastructure schemes.”

A full announcement on trading and profits for the first six months of the year will be released on 25 August.