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 reveals full-year profit rise

Costain

Contractor Costain has announced its operating profit is up 16% for 2015.

The company has released its full-year results for the year ended 31 December 2015 which reveal underlying operating profit of £33.2M, up from £28.7M for the previous year.

Reported pretax profit for 2015 was £26M, compared to £22.6M for the same period the year before.

The company also revealed revenue increased to £1.3bn for 2015. Revenue for the same period in 2014 was £1.1bn.

Costain’s outlook for 2016 is also positive with more than £1.1bn of revenue already secured, as well as £2.8bn of revenue secured for 2017 and beyond.

Costain chairman David Allvey said: “We have again delivered a strong performance with growth in both revenue and profit. Our order book has reached a new record level of £3.9bn, providing good forward visibility.

“Our success is the direct result of our ‘Engineering Tomorrow’ strategy, with focused organic growth and targeted acquisition. We further reinforced Costain’s position as a tier-one supplier providing the broad range of innovative integrated services demanded by our major customers who are spending billions of pounds enhancing the UK’s energy, water and transportation infrastructures.

“This unique market position is allowing Costain to accelerate its growth, and our confidence is reflected in the recommendation to increase the total dividend for the year by 16%.”

Tags

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.