Costain named contractor of the decade


 

TIDMCOST 
 
 
Costain Group PLC 
06 August 2010 
 
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Costain Group PLC 
 ("Costain") 
 
One of the UK's top industry magazines 
has voted Costain the outstanding contractor of the decade. 
 
 The 'Contractor of the Decade' Award was announced this week by New Civil 
Engineer at the magazine's annual awards. New Civil Engineer stated: 
 
 "In the late 1990s Costain was in a dire state - close to financial 
collapse, it took three years of austere stewardship from then chief executive 
John Armitt - the current chairman of the Olympic Delivery Authority - to turn 
the company around and then another 10 - under Stuart Doughty and his successor 
Andrew Wyllie - to make it into the company it is today. 
 
"And today it is 
very much a company on the up." 
 
 "In New Civil Engineer's 2001 Contractors 
File, the firm (Costain) was placed thirteenth, with a civil engineering 
turnover of GBP150 million. Since then it has risen steadily to fifth, with a 
GBP791 million civils turnover this year - a 427% increase. This rise is 
unmatched by any other firm in the upper echelons of the File. Closest is 
Balfour Beatty - Britain's biggest contractor, and a firm which also enjoyed a 
tremendously strong decade. But unlike Costain, its growth was in part due to 
major acquisitions." 
 
 New Civil Engineer quoted Stephen Wells, Costain 
Group Strategy and Business Development Director, as saying: 
 
"Our goal is to attract, retain and develop the best people by providing a 
challenging and stimulating working environment where people enjoy their jobs, 
fulfil their potential and are recognised for their efforts." 
 
 All the top 
names in the industry - Balfour Beatty, Carillion, Sir Robert McAlpine etc - 
were in the running for the Award but as New Civil Engineer stated: "For being a 
firm recovering from near collapse to one with a bold strategy for the future, 
Costain is New Civil Engineer's Contractor of the Decade." 
 
 
 
6 August 2010 
Enquiries: 
 
+---------------------------+---------------------------+ 
| Costain Group PLC         |         Tel: 01628 842444 | 
+---------------------------+---------------------------+ 
| Graham Read,              |                           | 
| Communications Director   |                           | 
|                           |                           | 
+---------------------------+---------------------------+ 
| College Hill              |        Tel: 020 7457 2020 | 
+---------------------------+---------------------------+ 
| Adam Aljewicz             |                           | 
+---------------------------+---------------------------+ 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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