Contractor says it will meet profit expectations

Contractor Costain ended 2011 with its order book up 4% on the same point last year to 拢2.5bn, according to a trading update issued today.

The firm said it is on track to meet profit expectations following the securing of a range of major contracts including the London Bridge Thameslink redevelopment and the Crossrail Paddington station job.

It said it had secured 拢650m of work for 2012, with a further 拢1.8bn of work secured for 2013 and beyond. Costain said it had a 鈥渟trong鈥� bidding position on a job worth 拢400m.

Andrew Wyllie, chief executive, said: 鈥淲e have continued to benefit throughout this year from the implementation of our 鈥楥hoosing Costain鈥� strategy, which has been to focus on blue chip customers in chosen sectors whose major spending plans are underpinned by strategic national needs, regulatory commitments or essential maintenance requirements.鈥�

Topics