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Rise in profits for Costain

Contractor Costain’s profits grew 16% in 2012.

Results for 2012 show an increase in operating profit from £24.1M in 2011 to £25.1M in 2012. Earnings per share grew from 31.1p to 41.4p and the dividend per share grew from 10p to 10.75p.

Revenue fell by £51.8M from £986.3M in 2011 to £934.5M in 2012. 

“Our progress in recent years, despite challenging economic conditions, is a reflection of the group’s strategic focus in meeting the complex needs of customers by ensuring that Costain provides integrated consulting, project delivery and operations and maintenance capability,” said Costain’s chairman David Allvey.

“With a robust balance sheet, positive net cash position and banking and bonding facilities in place, we have the resources to continue to grow the business organically and by acquisition.”

Costain’s order book stands at £2.4bn of which over 90% is repeat business.                    

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