Construction News

15/10/2009

Costain Order Book Increases To £2.7bn

Construction firm Costain has announced its order book has increased further to a new level of £2.7 billion, up from £2.5 billion in June.

Costain has just been awarded a £297 million contract with Sellafield, an extension to its current 5 year AMP4 framework contract with United Utilities worth £170 million and a contract with Bradford Schools Phase 2 PFI valued at £230 million.

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Regarding the firms financial status Costain said that there has been "no material change".

In a statement the company said: "Costain continues to enjoy a strong cash position of well in excess of £100 million and has no significant borrowings. The average month-end cash balance in 2009 to date is running slightly ahead of the average for 2008.

"The Group's ongoing strategic focus continues to provide Costain with a strong platform and the Board remains confident that the outcome for 2009 will be in line with its expectations."

(CD/GK)

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