Costain on way to a £1bn year

Engineering group Costain yesterday said that it remained on course to deliver a result for the year in line with expectations and had a record forward order book.

During the first half of the year, the company was appointed to Network Rail’s £2bn National Electrification Programme, the Crossrail North East Spur contract and three transmission frameworks with National Grid.

Its forward order book has increased to a record level of £3.2bn from £3bn as at 31 December 2013. It said 90 per cent of its order book was made up of repeat orders.

Overall, £950m of revenue has been secured for 2014. This, the firm said, was proof of the “reputation which Costain holds among its customers”.

The firm’s six-month interim results will be announced on 21 August.

Costain’s shares yesterday closed down 0.10 per cent at 249.75p