5th Jan 2021 10:48
(Alliance News) - Costain Group PLC on Tuesday reported profitable trading with good cash generation since its interim results were announced back in September.
The London-based infrastructure construction firm said its year-end order book as of Thursday last week was GBP4.2 billion, which is unchanged from the previous year. It said it has secured orders worth approximately GBP1.02 billion for 2021, an increase of 8.5% from the GBP940 million secured for 2020 a year prior.
Costain said its year-end net cash of GBP102.5 million, an increase of 57% from GBP64.9 million in 2019, was ahead of its expectations. This is comprised of GBP89.5 million of cash, GBP61.0 million share of cash in joint operations and GBP48.0 million of drawn debt.
Costain said it will announce its results for 2020 on March 9.
Shares in Costain were down 0.7% at 57.00 pence in London on Tuesday.
By Zoe Wickens; [email protected]
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