Firm鈥檚 order book increased to over 拢3bn in the first four months of the year
Costain鈥檚 order book has hit a record level of 拢3.2bn, the firm has said.
In a statement to the City this morning outlining the firm鈥檚 performance in 2014 to date, Costain said its order book had increased to 拢3.2bn, up from 拢3bn at the end of 2013.
It added that 鈥渙ver 90%鈥� of the orders in its order book were from repeat customers.
It also said its preferred bidder position remained at 鈥渙ver 拢400m鈥�, the same level it was at at the end of 2013.
Costain said it had now secured over 拢900m of revenue for 2014 and that 鈥渢he overall level of tendering activity across the group鈥檚 targeted markets is high鈥�.
In its statement it said: 鈥淐ostain is well positioned in a developing market of a limited number of providers who can deliver the innovative integrated consulting, project delivery and operations and maintenance services increasingly demanded by major customers.鈥�
Andrew Gibb, analyst at Investec, said: 鈥淐ostain has differentiated itself from its peers, by being able to be on the front foot in terms of accelerating its growth potential.
鈥淲e believe this positive move reflects its focused strategy, whereas others in the space have been too distracted by trying to develop operations outside their core markets. The strong growth in the order book would appear to support this view.鈥�
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