REG - Costain Group PLC - Update Regarding A66 Project

CostainAnnouncement

08/06/2023 16:30

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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 £2.8bn 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
paul.sharma@costain.com

Paul Sharma,
Costain
+44 7867 501188

 

Financial media - Headland
                       costain@headlandconsultancy.com

Andy
Rivett-Carnac
+44 (0) 7968 997 365

Charlie Twigg
                                        +44 (0) 7946 494
568

 

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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