Costain Group PLC Half Year Trading Update (2813F)

TIDMCOST

RNS Number : 2813F

Costain Group PLC

15 July 2021

Costain Group PLC

("Costain" or "the Group")

Half Year Trading Update

Costain, the smart infrastructure solutions company, today issues a trading update ahead of the publication of its half year results for the period ended 30 June 2021, on 25 August 21.

We have continued to operate productively with effective safety measures in place across all contracts. Underlying trading has remained profitable with good cash generation resulting in a strong net cash position of GBP113.0 million as at 30 June 2021 (30 June 2020: GBP140.9 million), ahead of our expectations. We have continued to secure new contracts in line with our strategic ambitions. This continued progress underpins our confidence in delivering further growth in profits this year, in line with the Board's expectations.

The order book at 30 June 2021 stands at GBP4.0 billion (30 June 2020: GBP4.2 billion), with c GBP1.2 billion secured for 2021. The Group's net cash position of GBP113.0 million comprised GBP100.0 million of cash, GBP57.0 million share of cash in joint operations and GBP44.0 million of drawn debt. The average month-end net cash balance for the period was GBP102.9 million (2020 half year: GBP56.3million).

Enquiries:

 
 Costain                                  Tel: 01628 842 444 
 Alex Vaughan , Chief Executive Officer 
 Helen Willis, Chief Financial Officer 
 Sara Lipscombe, Group Communications 
  Director 
 
 MHP Communications                       Tel: 020 3128 8658 
 Tim Rowntree                             Costain@mhpc.com 
  Peter Hewer

Notes to Editors

Costain helps to improve people's lives with integrated, leading edge, smart infrastructure solutions across the UK's transportation, water, energy and defence markets. We help our clients improve their business performance by increasing capacity, improving customer service, safeguarding security, enhancing resilience, decarbonising and delivering increased efficiency. Our vision is to be the UK's leading smart infrastructure solutions company. We will achieve this by focusing on blue chip clients whose major spending plans are underpinned by strategic national needs, regulatory commitments, legislation or essential performance requirements. We offer our clients leading edge solutions that are digitally optimised through the following five services which cover the whole lifecycle of their assets: future-shaping strategic consultancy; consultancy and advisory; digital technology solutions; asset optimisation and complex programme delivery. Our culture and values underpin everything we do.

For more information visit www.costain.com

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