黑洞社区

A high proportion of repeat orders and growth in infrastructure helped Costain increase pre-tax profit by 9% in its full-year results to 31 December 2012.

Pre-tax profit grew to 拢26.1m from 拢23.9m the previous year. A focus on higher margins, now up to 4%, led to a drop in revenue of 5% to 拢934.5m, down from 拢968.3m the previous year.

Costain chief executive Andrew Wyllie told 黑洞社区 the results reflected a focus on 鈥渞epeat orders for blue chip customers鈥�, with repeat business up to 90%.

Wylie said: 鈥淎ll the major blue chip clients are looking to consolidate their supply chains and are hoping to use fewer contractors. They鈥檙e changing the way they procure and going for a much more integrated approach.鈥�

The firm鈥檚 infrastructure division increased revenue by 20% to 拢562.3m, up from 拢466m.

Costain said the rail, highways and airport divisions continue to see high tendering activity.

During the year Costain secured new contracts and extensions worth 拢900m with a year-end total order book of 拢2.4bn. The firm has around 拢1.7bn of revenue secured for 2014 onwards.

Wylie said the firm was 鈥渞amping up鈥� its business development push in the water sector and saw 鈥渓ots of opportunities in oil and gas鈥�.

Wylie added: 鈥淐lients now want a much more long term relationship that works better for them. The notion you can offer yesterdays product at yesterday鈥檚 price is not what we believe in at Costain.鈥�