What she needs to do on Wednesday is resign But they will only have an even less qualified muppet available |
Chancellor to announce big building contracts on Wednesday |
As i said a few days ago, all pluses intact |
Happy to be back in again here. The recent drop may have been the catalyst for them to issue a well overdue trading update. Either way the sharp increase in their forward work position to £5.4bn (FY 23: £3.9bn) should provide confidence to the market. |
What a show of strength by the Team and Company. That'll put the naysayers in their box. No rumours to be spread here. Move along. |
Well done the management team Great RNS |
 Well done Paul and Costain. Thank you for listening to your shareholders.Trading Update with Strong Forward Work PositionCostain Group PLC ("Costain" or the "Group") today confirms that it will announce its full year results on 11 March 2025. Trading for FY 24 has been positive with Group adjusted operating profit expected to be in line with market expectations and net cash at the end of the year in line with market consensus1. Costain finished the year strongly:· Growing in strategic markets with further significant Water and Rail awards announced in H2 24.· Continuing to broaden and grow its Tier 1 customer base.· Growing its consultancy services, including the engineering, procurement and construction (EPCm) award following the FEED contract for the bp joint ventures Net Zero Teesside Power and the Northern Endurance Partnership, and a second hydrogen FEED contract.Costain has seen a substantial increase of £1.5bn in its high-quality forward work position to £5.4bn (FY 23: £3.9bn) at the end of FY 24. This, together with growth on existing frameworks and attractive levels of bidding activity, gives the Group increasing confidence in its ability to deliver further growth in operating profits and margins.1 Market expectations for FY 24 adjusted operating profit is between £41.9m and £43.3m with market consensus for net cash of £160.0m. |
Yep no issues expanded order book |
There´s your Trading Update, and looks good. |
No profit warning here |
Can I suggest you and others write to Paul.sharma@costain.com. Paul is the Investor Relations Director responsible.I have already clearly expressed my views.Would be helpful for others today well. |
I fully agree DB. A 20% drop in one month, when we have been in a rising uptrend since June 22, deserves a response from the company. GFRD and KIE have both issued trading statements in recent weeks, and their share prices have faired far better than Costain’s.
I think Costain management forget that the shareholders own the company, and they deserve to be informed on the performance of the company at regular intervals, particularly when the share price falls dramatically, for no obvious reason.
Come on Costain…please improve the comms to your loyal shareholders. |
I'm a long term investor but I expect management to respond to 20% share price declines that are not part of a general market/industry decline. Looking after shareholders' interests is a part of getting a good rating versus your peer group. |
I contacted IR earlier in the week regarding a possible TS and they said the next scheduled information would be results in March. Not to say they won't change their mind... |
Sorry, I'll write that again.
Should have a statement soon following 20% price decline and a positive statement from Kier. Surely not going to keep shareholders waiting until full year announcement on 11th March. |
Renew Holding issued a warning and dropped 20% todayHowever, that was after it dropping 20% in the last couple of month - insider selling ?Do we have the same happening here ?I think it's incorrect to look at Net Cash - as they receive a lot of cash up front.Net current assets is better and is c£100mValues business at c£150m ?Free cash flow in H1 was £15m so full year c£30m ?5 x FCF - sounds about right for a Construction Co ? |
TT I'm like wise I believe the management,solid turnover,rising margin,plenty cash,pension funding sorted,rising dividends and respected business,there's just too many pluses |
Don't believe there is any reason for pulling back. Maybe, no news and waiting for results.Market makers trying to pick up cheap shares dropping prices. Causing others to sell fearing something going on. |
Unfortunately the company does not believe the value of providing trading updates ahead of results like many other companies.Full year results will be next update on 11th March |
Down 20% from its recent peak even though bond yields have backed off from their highs. We should expect a statement about the first half soon. I'm not adding until then. |
I've added a bit more today, let's hope we get an update soon |
Elsa agree rail at the moment is predominantly hs2 they are moving towards more rail but they are nowhere near like renew holdings over the top as usual but it creates opportunities as always |
Costain are not on CP7. Their largest contracts are on HS2. 2 large contracts were awarded in December.
Market cap £230 million. Net cash £165 million.
Over reaction IMHO. |
Forever renew holdings epic RNWH if you use ADVFN monitor you can grab them via the quote mechanism to see the rns today |
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