Orders up 拢400m on last year, with 拢1.1bn in revenues secured for 2016
Costain has started the new year with a record 拢3.9bn order book, as its clients in the energy, transport and water infrastructure sectors continue to invest heavily.
In a trading update to the City, the contractor announced that orders were up 拢400m on last year鈥檚 拢3.5bn record, with 拢1.1bn of secured revenues in 2016.
Costain chief executive Andrew Wyllie CBE (pictured) said: 鈥淐ostain has had another good year.
鈥淲e also have good visibility over the medium-term, having finished the year with a record order book and a strong net cash position, providing confidence for the future.鈥�
The firm said that Costain鈥檚 long-term customer relationships meant that over 90% of the order book comprised repeat business.
It added it was preferred bidder on a further 拢500m of work, and is actively tendering for work across all its target markets.
The firm also finished 2015 with a net cash position of over 拢100m, despite the 拢36m acquisition of consultant Rhead Group, which it said has already been substantially integrated.
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