REG - Costain Group PLC - Trading Update with Strong Forward Work Position

CostainAnnouncement

27/01/2025 07:00

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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
consensus(1).

 

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.com

 Paul Sharma, Costain        +44 (0)7867 501188

 Financial media - Headland  costain@headlandconsultancy.com
 Andy Rivett-Carnac          +44 (0)7968 997365
 Charlie Twigg               +44 (0)7946 494568

 

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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