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Costain reveals healthy forward order book

Costain has pledged to continue focusing on major infrastructure clients in an interim management statement issued this week.

The statement, which covers the period from 1 July to 6 November, also reveals that the firm has £2.4bn of forward orders, over 90% of which are from repeat orders, and a further £400M of work for which it is the preferred bidder.

Contracts won during the period covered by the statement include a framework for Magnox worth around £288M over 10 years for construction, infrastructure and maintenance projects across all 10 sites operated by Magnox on behalf of the Nuclear Decommissioning Authority.

According to the statement, Costain’s strategy is to focus its resources on “meeting the integrated service requirements of major customers, whose spending plans are underpinned by national needs, regulatory commitments or essential maintenance requirements and who are continuing to invest significantly in those requirements”.

It also plans to continue expanding its support service related activities, which currently account for 28% of revenue.

 

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