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Record order book helps Costain to increased profit

If oil stays at about $40 a barrel, the shakeout could be profound, according to Kimberley Wood
If oil stays at about $40 a barrel, the shakeout could be profound, according to Kimberley Wood

Engineering group Costain has reported a strong first half of 2015 with increased revenue and profits.

Costain’s revenue was £621.1 million in the first six months of the year, compared to £529.1million in the same period in 2014.

Pre-tax profit was £11.4 million compared to £9.1million in 2014.

Costain said its customer-focused strategy had produced a record forward order book that had increased 16% to £3.7 billion (2014: £3.2 billion) and had increased the interim dividend by 15%.

Chief executive Andrew Wyllie said: “We have delivered another strong performance in the first half of the year. In addition to growth in revenue and profit, our order book now stands at a record £3.7 billion.

“Costain has an established reputation for delivering innovative integrated services that enables the Group to win large, long-term contracts addressing the UK’s national needs in energy, water and transportation.”

The results follow the recent £36million takeover of Rhead Group, which allowed Costain to beef-up its programme management offering.

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