Costain Group PLC Year End Trading Update (0078M)
2019年1月3日 - 4:00PM
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RNS Number : 0078M
Costain Group PLC
03 January 2019
3 January 2019
Costain Group PLC
("Costain" or "the Group" or "the Company")
Year End Trading Update
Costain, the smart infrastructure solutions company, today
issues a trading update ahead of announcing results for the year
ended 31 December 2018 on 6 March 2019.
The Group has continued to perform well in the second half and
expects to deliver full-year results in line with the Board's
expectations.
This year has seen the Group make further progress on its
strategy of transforming Costain into the UK's leading smart
infrastructure solutions company. Costain is differentiating itself
through its long-term strategic relationships and integrated
technology-enabled services necessitated by the increasingly
complex and fast-changing nature of its clients' requirements. The
Group continues to be involved in a number of major
regulatory-driven procurement processes.
The Group has finished the year with an order book at a record
level of GBP4.2 billion (31 December 2017: GBP3.9 billion),
reflecting Costain's market position with its target clients who
are consolidating their supply chains to deliver increasingly
large, multi-billion pound investment programmes underpinned by
regulatory commitments. In addition, the Group's preferred bidder
position stands at c GBP600 million (31 December 2017: GBP400
million).
The Group finished the year with a strong net cash position of
over GBP110 million, in line with expectations, (31 December 2017:
GBP177.7million) with the reduction from last year's exceptionally
high level due to the timing of receipts in that period. Throughout
the year the Group had a positive net cash position with an average
month-end net cash balance of c GBP77 million (2017: GBP96.7
million).
Andrew Wyllie CBE, chief executive, said:
"This has been another year of progress for Costain. The
benefits of our integrated offering, long-term strategic
relationships with our clients and strong balance sheet position us
well for the future and the significant opportunity we see across
our rapidly-changing end markets."
Enquiries:
Costain Tel: 01628 842 444
Andrew Wyllie CBE, Chief Executive
Tony Bickerstaff, Chief Financial
Officer
Carolyn Rich, Investor Relations
Director
Sara Lipscombe, Group Communications
Director
Instinctif Partners Tel: 020 7457 2020
Mark Garraway
James Gray
Notes to Editors
Costain helps to improve people's lives by deploying
technology-based engineering solutions to meet urgent national
needs across the UK's energy, water and transportation
infrastructures. We have been shaping the world in which we live
for the past 150 years.
The Group's 'Engineering Tomorrow' strategy involves focusing on
blue chip clients in chosen sectors whose major spending plans are
underpinned by strategic national needs, regulatory commitments or
essential maintenance requirements.
Costain's 4,000 people are committed to high performance and
safe delivery. They are delivering a broad range of innovative
services including consultancy, technology, asset optimisation and
complex delivery services across a range of high profile contracts
in the UK incorporating the whole life cycle of our clients'
assets.
For more information visit www.costain.com
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END
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