Costain Sees Trading In Line With Views

30th Jun 2010 07:12

LONDON (Dow Jones)--Costain Group PLC (COST.LN), said Wednesday that it has continued to perform in-line with the board's expectations as a result of a number of significant new contract awards since the beginning of the year, and the group has a forward order book of GBP2.5 billion. MAIN FACTS: -GBP1 billion of work has been secured for 2010. -In addition, the group has preferred bidder positions of over GBP500 million. -The group has maintained its strong net cash position of in excess of GBP100 million, and has no significant borrowings. -The group's operations continue to benefit from its strategy to focus on targeted blue chip customers whose major spending plans are underpinned by strategic national needs, regulatory commitments or essential maintenance requirements in chosen sectors. -In this regard, it is encouraging that the Government has recently reiterated its commitment to maintain investment in key major infrastructure schemes. -In line with its strategy, the Group has recently amalgamated its Environment and Community activities into a single enlarged division, which will focus on new opportunities particularly in the water and waste markets and meeting the needs of their existing long-term customer relationships. -Its Infrastructure and Energy & Process divisions will continue to target opportunities in their markets. -Shares closed Tuesday at 203 pence. -By London Bureau, Dow Jones Newswires; Contact Razak Musah Baba; +44 (0)20 7842 9275; [email protected] (END) Dow Jones Newswires June 30, 2010 02:12 ET (06:12 GMT)