Costain has revealed it has already secured £700M of work for the year ahead, a £50M stronger position than it was in at the same time last year.
It said that since the announcement of the group’s interim management statement on 6 November 2012, the firm continued to perform well and consequently finished the year in line with the board’s expectations.
As a result of new orders and contract extensions the Group finished the year with a order book of £2.4bn of which over 90% is repeat orders, providing good long-term visibility.
In excess of £700M of work has been secured for 2013 with the firm in a strong preferred bidder position on more work worth over £400M.
The firm said the group also finished the year with a strong cash position and no significant borrowings.