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Costain order book hits £3.5bn

Costain finished 2014 with a record order book of £3.5bn, it told the City this morning.

The Berkshire-based contractor said in a trading update that long-term deals with Network Rail, the Highways Agency and Southern Water had boosted its pipeline of work.

Its order book was up from £3bn a year earlier.

Costain said it had more than £1bn of 2015 revenue secured by the end of last year, and that 90% of its overall order book was repeat business.

The contractor finished 2014 with more than £140M in the bank.

Chief executive Andrew Wyllie, who received a CBE in the New Year Honours, said: We have finished the year with a record order book and strong net cash position, providing confidence and visibility for the future.”

Costain will announce its full-year results on 3 March.

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