Business
Trading Update with Strong Forward Work Position
Trading Update with Strong Forward Work Position.
About this update from Costain Group Plc
27 January 2025 Trading Update with Strong Forward Work Position Costain Group PLC ("Costain" or the "Group") today confirms that it will announce its full year results on 11 March 2025. Trading for FY 24 has been positive with Group adjusted operating profit expected to be in line with market expectations and net cash at the end of the year in line with market consensus 1 . Costain finished the year strongly: · Growing in strategic markets with further significant Water and Rail awards announced in H2 24. · Continuing to broaden and grow its Tier 1 customer base. · Growing its consultancy services, including the engineering, procurement and construction (EPCm) award following the FEED contract for the bp joint ventures Net Zero Teesside Power and the Northern Endurance Partnership, and a second hydrogen FEED contract. Costain has seen a substantial increase of £1.5bn in its high-quality forward work position to £5.4bn (FY 23: £3.9bn) at the end of FY 24. This, together with growth on existing frameworks and attractive levels of bidding activity, gives the Group increasing confidence in its ability to deliver further growth in operating profits and margins. 1 Market expectations for FY 24 adjusted operating profit is between £41.9m and £43.3m with market consensus for net cash of £160.0m. Enquiries: Investors and analysts Paul Sharma, Costain [email protected] +44 (0)7867 501188 Financial media - Headland [email protected] Andy Rivett-Carnac +44 (0)7968 997365 Charlie Twigg +44 (0)7946 494568 Notes to editors Costain helps to improve people's lives by creating connected, sustainable infrastructure that enables people and the planet to thrive. We shape, create and deliver pioneering solutions that transform the performance of the infrastructure ecosystem across the UK's transport, energy, water, and defence markets. We are organised around our customers, anticipating and solving their challenges and helping to improve performance. By bringing together our unique mix of construction, consulting and digital experts we engineer and deliver sustainable, efficient and practical solutions.