Costain trading in line this year

CONSTRUCTION group Costain said yesterday trading has been in line with forecasts so far this year, with a forward order book of £2.3bn.

Costain, which spent five months unsuccessfully pursuing a takeover of Mouchel earlier in the year, said £850m in revenue has been secured for 2011 so far.

The company also has a cash pile “in excess of £100m, and has no significant borrowings”.

Shareholders also passed all resolutions at their annual meeting yesterday. Costain’s shares closed down 0.9 per cent at 227p.