Costain order book soars to record £3bn

Aaron Morby 12 years ago
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Costain has seen a strong improvement in orders since its half-year results taking its order book to a new record level of £3bn.

The firm said it was also enjoying a high overall level of tendering activity across its targeted markets, in a trading update issued this morning.

The uplift was delivered with big contracts wins with Thames Water for AMP6, several big jobs for Crossrail including the design, fit-out and commissioning of the railway systems and a contract to design and deliver the water cooling systems for the Hinkley Point C nuclear power station.

More than £700m of revenue is now secured for 2014, with the order book also providing good long-term visibility with £2.1bn revenue secured for 2015 and beyond.

The balance of the order book covers the remainder of this year.

Over 90% of the order book is a target cost, cost reimbursable form of contract.

The group has a strong preferred bidder position of over £400m.

Costain confirmed that Alex Vaughan was new managing director of the Natural Resources division, succeeding Mark Rogerson who left the group to pursue other opportunities.

Tim Bowen has replaced Alex Vaughan as Corporate Development Director.

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