Infrastructure drives Costain
23 August 2012
Contractor Costain’s pre-tax profits have jumped by over £5m for the first half of 2012, thanks to a strong performance from its infrastructure division.
The figure rose to £15.4m for the first six months of this year, up from £10.1m during the same period last year.The group’s infrastructure division almost doubled its profits to £10.9m in the period, compared to £5.7m in 2011.
Profits also rose at its energy and process division by £600,000, however Costain’s environment arm saw profits fall to £1.6m, down from £6.7m in the same period last year.
The firm remains cautiously optimistic for the future, with a forward order book of £2.4bn and is at preferred bidder stage on £400m-worth of deals.
“Despite the ongoing challenging economic conditions, we remain on course to deliver a result for the year in line with the board’s expectations,” said chairman David Allvey.
