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%.”