Costain Group PLC Update Regarding A66 Project (1593C)

TIDMCOST

RNS Number : 1593C

Costain Group PLC

08 June 2023

Costain Group PLC

8 June 2023

Update Regarding A66 Project

Costain Group PLC ("Costain" or "Group") has noted media reports regarding its involvement on the A66 project and the potential impact on Costain's order book.

Due to a change in contracting strategy for the A66 only, we have agreed with National Highways that our involvement in the A66 scheme will come to an organised and managed end. Costain is one of four parties involved in the A66 and this project was included in our preferred bidder book and therefore this decision has no impact on the Group's order book.

Costain takes a prudent view of its order book, and the overall value of its order book is broadly unchanged from GBP2.8bn as announced at our full year 2022 results on 14 March 2023.

Costain continues to bid on a number of significant projects across the Group.

Costain confirms that it will continue to work on the A12 Chelmsford to A120 widening project, supporting the delivery of the project's development consent order application and delivering a package of enabling works for the scheme. We will continue to bring our innovation and expertise to other critically important National Highways projects.

The Board remains confident of delivering full year results in line with its expectations.

Enquiries

Investors and analysts [e-mail]

Paul Sharma, Costain [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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCEVLFBXQLFBBE

(END) Dow Jones Newswires

June 08, 2023 11:17 ET (15:17 GMT)