Costain releases strong interim figures

Costain Group has revealed that its forward order book has increased further to a new record level of £2.7 billion, up from £2.5 billion at 30 June 2009.This increased order book follows major contract awards including:

• an extension to its current 5-year AMP4 framework contract with United Utilities worth £170 million
• a £297 million contract for Sellafield Ltd for the Evaporator D project extending the project from the original planning into the delivery phase
• Bradford Schools Phase 2 PFI, in joint venture, valued at £230 million

Costain continues to see strong levels of tendering activity, both in established sectors such as water and infrastructure, and in newer business areas such as nuclear and waste. The Group's preferred bidder position is currently in excess of £400 million reflecting recent successes in converting previous preferred positions to firm orders.

The Group has already secured revenues of over £800 million for 2010, substantially ahead of the position for 2009 at this time last year.

There has been no material change in the financial status of the Group which continues to enjoy a strong cash position of well in excess of £100 million and has no significant borrowings. The average month-end cash balance in 2009 to date is running slightly ahead of the average for 2008.