Costain on track for year ahead

Engineering solutions firm Costain said this morning it had secured £700m of work for this year, adding that its full-year results would be in line with expectations.

It tops last year's figure of £650m.

Costain, which won several contracts in the second half of last year including a £288m project by Magnox to decommission the UK’s nuclear sites, finished the year with an order book of £2.4bn. More than 90 per cent is repeat orders, it said in a pre-close trading update this morning.

“We continue to like Costain due to its ability to deliver large, complicated infrastructure projects. We are also encouraged by its diversification strategy to expand its pre and post construction services,” Analyst Andy Brown at Panmure Gordon said today.