Costain reports growth

British engineering group Costain has increased its order book by 20 per cent and secured £900m of revenue since the beginning of this year despite difficult market conditions.



British engineering group Costain has increased its order book by 20 per cent and secured £900m of revenue since the beginning of this year, despite difficult market conditions.


The results come on the back of significant contract wins, notably in the group’s environment division, where the company has won a 10-year contract at an estimated value of £400m.


The group’s waste division has also performed well, securing a deal worth £397m for the design and build of Manchester’s municipal waste-treatment infrastructure.


Despite major deals in the UK, the company said that conditions for its land-development division in Spain remained challenging.


No land sales are expected in 2009 and action has been taken to reduce costs.


However, Costain said that its nuclear engineering and design activities have delivered good results and is an area that the company hopes to expand further.


In a statement, the group said: ‘In a period of economic uncertainty, the group continues to focus on major blue-chip customers who are expected to implement their long-term investment programmes.


‘The group’s order book is in good shape and, with robust finances underpinned by a strong cash-position and an ongoing rigorous focus on cost management, Costain is well positioned to deliver further progress.’