Costain Group PLC Year End Trading Update (9068A)
04 January 2018 - 6:00PM
UK Regulatory
TIDMCOST
RNS Number : 9068A
Costain Group PLC
04 January 2018
Costain Group PLC
("Costain" or "the Group" or "the Company")
Year End Trading Update
4 January 2018
Costain, the smart infrastructure solutions company, is issuing
a trading update ahead of announcing results for the year ended 31
December 2017 on 1 March 2018.
Since the announcement of its interim results on 23 August 2017,
the Group has continued to perform well and expects to deliver
full-year results in line with the Board's expectations.
The Group is making good progress in its transformation into the
UK's leading smart infrastructure solutions company. Examples of
recent activity in this regard include the Group's involvement in
the operational trials of HGV platooning vehicles, the Government
funded testbeds for connected and autonomous vehicles, and asset
optimisation for a number of water utilities. We have also
appointed technology leader Jacqueline de Rojas CBE as a
non-executive director.
Costain continues to differentiate itself by offering integrated
technology, consultancy, asset optimisation and complex delivery
services to meet the ever more complex challenges of enhancing the
nation's infrastructure.
As a result of new orders, including further awards on the High
Speed 2 programme, the Group has finished the year with a
high-quality order book maintained at GBP3.9 billion (31 December
2016: GBP3.9 billion). In addition, Costain has a preferred bidder
position at c. GBP400 million (31 December 2016: GBP500 million).
Following very good cash generation towards the end of the period,
the Group finished the year with a strong net cash position of over
GBP150 million (31 December 2016: GBP140.2 million).
Andrew Wyllie CBE, chief executive, said:
"Costain has had another strong year. Our performance is a
direct consequence of our differentiation and our ability to
provide the rapidly changing range of integrated services required
by our major clients."
Enquiries:
Costain Tel: 01628 842 444
Andrew Wyllie CBE, Chief Executive
Tony Bickerstaff, Chief Financial
Officer
Catherine Warbrick, Investor
Relations Director
Sara Lipscombe, Group Communications
Director
Instinctif Tel: 020 7457 2020
Mark Garraway
James Gray
This information is provided by RNS
The company news service from the London Stock Exchange
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