Costain Group PLC Trading Update with Strong Forward Work Position

RNS Number : 6959U

Costain Group PLC

27 January 2025

 

 

 

27 January 2025

 

Trading Update with Strong Forward Work Position

 

 

Costain 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.

Enquiries:

 

Investors and analysts Paul Sharma, Costain	[e-mail] [phone]
Financial media - Headland	[e-mail]
Andy Rivett-Carnac	[phone]
Charlie Twigg	[phone]

 

Notes to editors

 

Costain helps to improve people's lives by creating connected, sustainable infrastructure that enables people and the planet to thrive. We shape, create and deliver pioneering solutions that transform the performance of the infrastructure ecosystem across the UK's transport, energy, water, and defence markets.

 

We are organised around our customers, anticipating and solving their challenges and helping to improve performance. By bringing together our unique mix of construction, consulting and digital experts we engineer and deliver sustainable, efficient and practical solutions.

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