Costain announces a strong operational performance,

Costain has announced a strong operational performance, a record year-end order book and an increased dividend for the year. The companies revenue of £1,061.1 million (£996.0 million) exceeds £1 billion for first time in 16 years with profit from operations increased by 14% to £20.8 million (2008: £18.3 million)

The groups profit before tax is £18.1 million (2008: £23.1 million) with a record year-end forward order book, up 30% at £2.6 billion (2008: £2.0 billion) and repeat order customers account for 84%, included c. £900 million of secured work for 2010

David Allvey, Chairman, commented:
“This was an excellent overall operational performance. Once again, the Group has demonstrated its resilience in a difficult economic environment. We are confident that our position in markets underpinned by strategic capital expenditure, regulatory commitment or essential maintenance requirements will continue to stand us in good stead."

“With a record year-end order book, a significant amount of work already secured for 2010, a net cash balance of over £120 million and customers committed to long-term capital investment programmes, Costain is looking to the future with confidence. That confidence is reflected in the Board‟s recommendation to increase by 10% the total dividend for the year....Building on our success, we are now implementing the next stage of our strategy, "Choosing Costain", which will ensure that the Group enhances its position as one of the leading players in the industry.”