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COST Costain Group Plc

73.80
-1.20 (-1.60%)
Last Updated: 12:30:29
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Costain Group Plc LSE:COST London Ordinary Share GB00B64NSP76 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.20 -1.60% 73.80 72.40 74.00 75.00 72.00 75.00 158,763 12:30:29
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Hghwy,street Constr,ex Elvtd 1.42B 25.9M 0.0936 7.88 204.19M

Costain Group PLC Trading Update (9986J)

04/07/2017 7:00am

UK Regulatory


Costain (LSE:COST)
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RNS Number : 9986J

Costain Group PLC

04 July 2017

Costain Group PLC

("Costain" or "the Group")

Trading update

4 July 2017

Costain, which deploys technology-based engineering solutions to meet urgent national needs across the UK's energy, water and transportation infrastructures, today issues a trading update ahead of its results for the six months ended 30 June 2017, which will be announced on 23 August 2017.

Trading

Trading during the first half has again been strong and the Group is on course to deliver results for the year in line with the Board's expectations.

Costain's 'Engineering Tomorrow' strategy enables the Group to provide a range of integrated, innovative services demanded by its customers to safeguard security of supply, increase capacity, improve customer service and drive efficiency across their infrastructure programmes. These customers are spending billions of pounds on programmes underpinned by legislation and regulation.

The order book at 30 June stood at GBP3.7 billion, of which over 90% is represented by repeat orders reflecting the strength of Costain's long-term relationships with its customers (30 June 2016: GBP3.9 billion). The Group also has a preferred bidder position of over GBP400 million and tendering levels remain high.

Further to the Company's announcement on 2 May 2017 regarding the Greater Manchester Waste contract, discussions continue between the Greater Manchester Waste Disposal Authority and Viridor Laing to whom Costain is a sub-contractor. Further announcements will be made as appropriate.

The Group's net cash position as at 30 June 2017 was over GBP80 million (30 June 2016: GBP69.2 million) with average month-end net cash for the first half of the year of circa GBP90 million (2016: GBP79.4 million).

Site visit

The Group is today hosting a site visit for analysts to its technology facility in Yatton, North Somerset. The visit will provide insight into the development and application of innovative technologies in the operation of the UK's national infrastructure.

No new material information will be disclosed and presentation materials will be available on www.costain.com

Enquiries:

 
  Costain                                Tel: 01628 842 444 
  Andrew Wyllie CBE, Chief Executive 
  Tony Bickerstaff, Finance Director 
   Catherine Warbrick, Investor 
   Relations Director 
  Sara Lipscombe, Group Communications 
   Director 
 
    Instinctif Partners                    Tel: 020 7457 2020 
  Mark Garraway 
  James Gray 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTUOOWRBAABRAR

(END) Dow Jones Newswires

July 04, 2017 02:00 ET (06:00 GMT)

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