Costain announces strong half-year performance

Costain announces strong half-year performance

Engineering services company Costain Group Plc has announced a major increase in half-year performance, reporting revenues of £621.1 million for the first half of 2015, up from £529.1 million the previous year.

 

Pre-tax profits also doubled, increasing from £5.8 million last year to £10 million, and adjusted pre-tax profits grew from £9.1 million to £11.4 million.

 

The company said it has secured more than £1.2 billion of revenue for 2015 compared to the £1.12 billion which was booked last year, and its order book value has increased to £3.7 billion from £3.2 billion, 90% of which comes from repeat orders.

 

Costain’s Chief Executive, Andrew Wyllie, commented: “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 is accelerating its growth and following the 17% increase in underlying operating profit in the first half of the year is on course to deliver a result for the year at the upper end of the board’s expectations. Our confidence for the future is reflected in the 15% increase in dividend.”

 

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