Contractor says it will meet profit expectations
Contractor Costain ended 2011 with its order book up 4% on the same point last year to £2.5bn, according to a trading update issued today.
The firm said it is on track to meet profit expectations following the securing of a range of major contracts including the London Bridge Thameslink redevelopment and the Crossrail Paddington station job.
It said it had secured £650m of work for 2012, with a further £1.8bn of work secured for 2013 and beyond. Costain said it had a “strong” bidding position on a job worth £400m.
Andrew Wyllie, chief executive, said: “We have continued to benefit throughout this year from the implementation of our ‘Choosing Costain’ strategy, which has been to focus on blue chip customers in chosen sectors whose major spending plans are underpinned by strategic national needs, regulatory commitments or essential maintenance requirements.”
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