Contractor issues positive trading update to the City

Costain

Costain鈥檚 order book has risen to a record 拢3.7bn, the contractor has announced.

In a trading update to the City, Costain said its order book increased to 拢3.7bn from 拢3.5bn at the end of 2014 and 拢3.2bn at 30 June 2014.

Costain said over 90% of its order book compromises repeat orders, which the firm said demonstrates its 鈥渓ong-term strategic relationships鈥� with customers.

Its recent contract wins include the 拢750m development of the M4 corridor around Newport in a joint venture with Vinci, as well as JVs with Skanska for the 拢55m underground link between the Crossrail and Bakerloo Line platforms at Paddington station, and the 拢600m A14 road improvement job for Highways England.

Confirming that it is on course to meet a result for the year in line with its board鈥檚 expectations, Costain added that it continues to maintain a strong preferred bidder position of over 拢500 million and that tendering activity remains high.

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