13th Jan 2005 07:05
Costain Group PLC13 January 2005 Costain Group PLC Trading Update Costain Group PLC ("Costain" or "the Group") will be releasing preliminaryresults for the year ended 31st December 2004 on Wednesday 16th March 2005. The Chairman commented: "We are pleased to announce the continued progress of the Group in the secondhalf of the year and that the results for the year will be in line withexpectations. At the end of the year the forward order book is in excess of£1bn." Of particular note was the success in water asset management, securing 5 to 10year contract wins with Thames, Yorkshire, Welsh Water and Severn Trent andnegotiations are continuing with United Utilities and Southern Water. Turnoverin the Building Division continues to increase with a large number of highprofile schemes including ISIS - another complex high-tech scientific facilityat Harwell, Kingston Hospital, Ealing Schools and the St Martins-in-the-Fieldsre-development. Our new financial year has got off to an encouraging start with the announcementof the first contract win by our joint venture with China Harbour. Thiscontract, valued at $170 million over 3 years with the construction of thebreakwater for a liquefied natural gas (LNG) receipt terminal, is a significantstep forward for both the joint venture and for Costain as the Group rebuildsits international portfolio of major contract work. Our Building Division, as construction partner to Serco Group plc, has also beenselected as preferred bidder for the Ministry of Defence's ("MoD") DefenceAcademy Campus Integrator contract in Shrivenham, Wilts. Costain will beresponsible for the management and integration of the design and build of a newcentre of excellence worth a potential £85 million. Stuart Doughty, Chief Executive, commented: "Costain made further, and significant, progress during the year. These recentcontract wins and those in the utilities sector underline the recognition thatCostain is a leading contractor, having significantly de-risked the business andfocussing on key areas of operation in both building and civil engineering. Ilook forward to presenting the outcome for the year." 13 January 2005 Enquiries: Costain Group PLC Tel: 01628 842444Stuart Doughty, Chief ExecutiveCharles McCole, Finance Director College Hill Tel. 020 7457 2020Mark GarrawayMatthew Gregorowski This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Costain