Trading Statement


 

TIDMCOST 
 
RNS Number : 1482F 
Costain Group PLC 
07 January 2010 
 

Costain Group PLC 
("Costain" or the "Group") 
 
 
Trading Update 
 
 
Costain, which will announce preliminary results for the year ended 31 December 
2009 on Wednesday 10 March 2010, is issuing a trading update ahead of entering 
its Close Period. 
 
 
Trading during the final quarter of 2009, and consequently for the year as a 
whole, remained in-line with the Board's expectations. 
The Group's operations continued to benefit from the deliberate focus on 
targeted blue chip customers whose major spending plans are underpinned by 
strategic national priorities in chosen sectors. Costain has a proven scale and 
capability to deliver complex solutions to major customers and as a result has 
entered 2010 with a strong order book and pipeline of opportunities. 
 
 
As at 31 December 2009, the Group's Forward Order Book had grown to GBP2.6 
billion, a 30% increase on the previous year (2008: GBP2.0 billion).Whilst we 
believe that market conditions will remain uncertain in 2010, the Order Book 
includes over GBP850 million of work secured for 2010, ahead of the position for 
2009 at this time last year. 
 
 
The order book has benefited from a number of major contract awards during the 
year, including: 
 
 
  *  five-year AMP 5 water frameworks for Severn Trent and United Utilities; 
  *  the major Evaporator D nuclear project at Sellafield; 
  *  the Midlands Works Contract 4 and five-year MAC 12 Highways contracts reflecting 
  the Group's strategic growth in maintenance activity; and 
  *  the Manchester Waste contract, part of Europe's largest waste project. 
 
 
 
In addition, the Group has preferred bidder positions of over GBP400 million 
reflecting success in converting previous preferred positions into firm orders. 
 
 
The Group maintained its strong cash position significantly in excess of GBP100 
million. 
 
 
 
 
Andrew Wyllie, Chief Executive, commented: 
 
 
"Costain continues to differentiate itself as a result of its strategic focus on 
customers who are expected to continue with their major investment programmes 
despite the current economic environment. We have a significantly increased 
order book, a strong cash position and an ongoing rigorous management of costs." 
 
 
 
 7 January 2010 
 
 
 
 
ENQUIRIES: 
 
 
+----------------------------------------------+------------------------------------+ 
| Costain Group PLC                            |                 Tel: 01628 842 444 | 
+----------------------------------------------+------------------------------------+ 
| Andrew Wyllie, Chief Executive               |                                    | 
+----------------------------------------------+------------------------------------+ 
| Tony Bickerstaff, Finance Director           |                                    | 
+----------------------------------------------+------------------------------------+ 
| Graham Read, Communications Director         |                                    | 
+----------------------------------------------+------------------------------------+ 
|                                              |                                    | 
+----------------------------------------------+------------------------------------+ 
| College Hill                                 |                 Tel: 020 7457 2020 | 
+----------------------------------------------+------------------------------------+ 
| Mark Garraway                                |                                    | 
+----------------------------------------------+------------------------------------+ 
| Adam Aljewicz                                |                                    | 
+----------------------------------------------+------------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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