Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Costain forecasts 'strong' financial results

Business

Costain has announced a continuation of its record £3.9bn results for 2016, due in part to several contract wins in the second half of the year. 

In a trading update the company announced it had finished the year with a net cash position of £100M. It also increased its revenues secured for 2017 to more than £1.2bn – up from £1.1bn the previous year – and maintained its order book at the 2015 level of £3.9bn, performing in line with the board’s expectations.

Costain said new contract wins during the second half of the year – including the High Speed 2 South Enabling Works, the Area 14 Maintenance commission for Highways England and the Peterborough and Huntingdon compressor station upgrade for National Grid – contributed to the positive results.

“Costain has had another strong year. Our customers are undertaking substantial investment addressing urgent national needs and we are looking forward to the future with confidence,” said Costain chief executive Andrew Wyllie.

Reflecting the development and changing nature of the business, the group has a total headcount at the year-end of more than 4,100, which includes more than 1,200 now in advisory, technology and design service roles.

Costain will announce final results for the year ended 31 December 2016 on 1 March.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Please note comments made online may also be published in the print edition of New Civil Engineer. Links may be included in your comments but HTML is not permitted.