3rd Jul 2018 10:42
LONDON (Alliance News) - Costain Group PLC on Tuesday said it expects to meet expectations for 2018 after the smart infrastructure products firm "did well" in the first six months of the year.
Costain said it has won a number of new contracts, including for the M6 smart motorway between junctions 21a and 26, as well as a motorway incident detection and automated signalling contract with Highways England.
As of the end of June the order book was GBP3.7 billion, flat year-on-year, and it also has a preferred bidder position for GBP400 million of contracts with tendering levels high.
Costain's balance sheet is strong, with net cash at GBP75 million at the end of June from GBP87.5 million a year prior, with the drop due to the timing of receipts.
Shares were 2.3% higher on Tuesday at a price of 441.20 pence each.
Related Shares:
Costain