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Costain reveals a £3.9bn 2016 order book

0.0 / 6 January /
Costain reveals a £3.9bn 2016 order book

Costain has closed out the year with a record order book totalling £3.9bn – up £400m on the previous year’s £3.5bn total - as it continues to be awarded large scale contracts by clients within energy, water and transport infrastructure sectors.

 

In a statement, Costain’s chief executive, Andrew Wyllie, said: “Costain has had another good year.

 

“We also have good visibility over the medium-term, having finished the year with a record order book and a strong net cash position, providing confidence for the future.”

 

The firm claims its order book provides good long-term visibility with £2.8bn of revenues secured for 2017 and beyond, while 90 per cent of the order book is made up of repeat business, testimony of Costain’s strategic nature of maintaining long-term client relationships.

 

It added it was also the preferred bidder on a further £500m of work, and is actively tendering for work across all target markets.

 

The firm also finished 2015 with a net cash position of over £100m, despite the £36m acquisition of Rhead Group, which Costain said has been substantially integrated.

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