Costain starts 2016 with £3.9bn record order book

Aaron Morby 8 months ago
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Costain has got off to a flying start in 2016 with a record order book as clients in targeted energy, water and transport infrastructure sectors continue to invest heavily.

Andrew Wyllie
Costain boss Andrew Wyllie confident about the year ahead

Orders were £400m ahead of last year’s record at £3.9bn, with over £1.1 bn of revenues secured for 2016. 

In a trading statement this morning chief executive Andrew Wyllie said: “Costain has had another good year. 

“We also have good visibility over the medium-term, having finished the year with a record order book and a strong net cash position, providing confidence for the future.”

The strategic nature of Costain’s long-term customer relationships has once again ensured that over 90% of the order book comprises repeat business.

Most of this comprises target cost, cost reimbursable, collaborative forms of contract providing good long-term visibility.

Costain has also maintained a strong preferred bidder position at over £500m, and the group is actively tendering for work across all its target markets.

The contractor finished the year with net cash position of over £100m, even after the £36m acquisition last August of consultant Rhead Group, which has already been substantially integrated.

 

 

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