5th Nov 2013 09:34
LONDON (Alliance News) - Construction giant Costain Group PLC Tuesday said its forward order book has increased further since the half year to a record level of GBP3.0 billion, as it remains on course to deliver full-year results in line with expectations
The Maidenhead-based company said, as well as including over GBP700 million of revenues for 2014, its order book provides good long-term visibility, with around GBP2.1 billion of revenues secured for 2015 and beyond.
The group said it had a strong preferred bidder position of over GBP400 million, while overall level of tendering activity across the company's targeted markets remains high.
In August, the company acquired engineering solutions provider EPC Offshore for an initial consideration of GBP9.6 million. Costain said its integration is progressing well and is on schedule.
With a record order book and high levels of tendering activity, Costain said it is on course to deliver full-year results in line with expectations and is "well positioned to deliver further progress".
The stock was trading at 285.29 pence Tuesday morning, up 4.29 pence or 1.5%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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