Trading update says company increased order book for 2009 by 30% and secured £850m of work for 2010

Costain has said it ended 2009 with an order book of £2.6bn, which was up by 30% on the previous year’s figure of £2bn.

In a trading update, the company said market conditions in 2010 were uncertain but that £850m of the work was already secured.

Its recent contract awards include a five-year AMP 5 water frameworks for Severn Trent and United Utilities, the Evaporator D nuclear project at Sellafield, five-year MAC 12 Highways contracts and the £397m Manchester Waste PFI contract.

Andrew Wyllie, chief executive, said: “Costain continues to differentiate itself as a result of its strategic focus on customers who are expected to continue with their major investment programmes despite the current economic environment.”

Costain said it ended the year with a cash position “significantly in excess of £100m”.

Topics