Costain begins 2014 well, with record orders

7th May 2014 08:20

Engineer and builder Costain has racked up record orders and started its new financial year well, the group said on Wednesday.Costain said contract awards and extensions had boosted its forward order book to a new high of £3.2bn from £3bn at the end of December, of which more than 90% was from repeat orders.Since the start of the year, the company has joined Network Rail's (NR) £2bn national electrification programme, with the contract worth an initial £900m over seven years to the group's joint venture.Costain has also won a £150m deal from NR to provide infrastructure and stations for London's Crossrail project and a National Grid contract.The overall level of tendering activity across its targeted markets was high, the company said.It added: "The group has made a strong start to the current year and is performing in line with the board's expectations."Shares rose 1.5p or 0.6% to 269p at 08:58 in London.PW