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Costain reports strong trading update

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Costain has reported it has continued to perform well and is expected to deliver full-year results in line with expectations.

A combination of new orders, including further awards on HS2, has helped Costain maintain an order book of £3.9 billion, the same as it was at the end of 2016.

In addition, the group has reported it has a preferred bidder position of around £400M and finished 2017 with a net cash position of over £150 million, up by almost £10M from the same time last year.

Costain chief executive Andrew Wyllie 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.”

The group is continuing to reposition itself as a smart infrastructure solutions company by offering integrated technology, consultancy, asset optimisation and complex delivery services to meet the ever more complex challenges of enhancing the nation’s infrastructure, the announcement said.

Recent activity include Costain’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.

Costain issued the trading update ahead of announcing results for the year ended 31 December 2017 on 1 March 2018.

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