Costain Group PLC Trading Update (8290U)

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RNS Number : 8290U

Costain Group PLC

04 January 2013

Costain Group PLC

("Costain" or "the Group" or "the Company")

Pre-Close Trading Update

Costain, one of the UK's leading engineering solutions providers, will announce preliminary results for the year ended 31 December 2012 on Wednesday 6 March 2013, and is issuing a trading update ahead of entering its Close Period.

Trading Update

Since the announcement of the Group's Interim Management Statement on 6 November 2012, Costain continues to perform well and consequently finished the year in line with the Board's expectations.

As a result of new orders and contract extensions the Group finished the year with a high quality Order Book of GBP2.4 billion (2011: GBP2.5 billion) of which over 90% is repeat orders, providing good long-term visibility. In excess of GBP700 million of work has been secured for 2013 (2011: in excess of GBP650 million secured for 2012).

In addition, Costain has a strong preferred bidder position of over GBP400 million.

The Group finished the year with a strong cash position and no significant borrowings.

Andrew Wyllie, Chief Executive, commented:

"Costain continues to be successful by focusing on meeting the increasingly integrated service requirements of major customers. Utilising a partnership approach, the Group provides innovative and cost effective solutions to complex and large-scale customer requirements through its consulting, project delivery and operations and maintenance capability."

4 January 2013

Enquiries:

 
 Costain                                  Tel: 01628 842 444 
 Andrew Wyllie, Chief Executive 
 Tony Bickerstaff, Finance Director 
 Graham Read, Communications Director 
 
 College Hill                             Tel: 020 7457 2020 
 Mark Garraway 
 Helen Tarbet

This information is provided by RNS

The company news service from the London Stock Exchange

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