Investors' Room :: What prospects for Costain - MoneyAM - Free Share Prices, Stock Quotes, Charts, News, Level2

paperbag - 21 Sep 2004 13:28

Would anyone know why there has been such a large number of shares sold and no buying? Is there something we are not aware of?
Chart.aspx?Provider=EODIntra&Code=COST&S

Chart.aspx?Provider=EODIntra&Code=COST&S

optomistic - 22 Sep 2004 11:23 - 2 of 369

solipa, just picked up on this thread. Costain has been one of my pet dogs for a long while, pre consolidation days. I don't hold out a hope of ever recovering my original investment but I do hope for some growth in the stock over time, after all Costain do keep gaining good contracts and have a good forward order book. I would not mind trading in the stock again but I would like to see the directors showing a little more concern for the shareholders first, like indicating that a dividend could be re-introduced soon, they have had a lot of free capital for a long time!!
As regards to the trades, don't take too much notice of the buys and sells, most unreliable, watch the volumes and price change, much more usefull.
Regards
opto

pjstanton - 04 Feb 2005 15:17 - 3 of 369

Well I'm happy to say that I'm holding for 0.75p

pjstanton - 06 Apr 2005 08:57 - 4 of 369

Questor - Daily Telegraph 05-04-05

Costain buoyed up by water

It doesn't take long to wreck a business but it does take an age to rebuild it. Costain, the once-great civil engineer, collapsed under heavy debts in the mid 1990s after a disastrous foray into US mining and is only now emerging from the wreckage.

The dividend has yet to be resumed but a progressive payout is expected from either this year or next. The core UK business has moved from a 5m loss in 2000 to a 10.5m profit last year. And the risky construction contracts have been more or less removed.

The recovery has been quicker than expected - in part because chief executive Stuart Doughty has been so successful in transforming the company into an asset manager for water utilities, in part because of the group's lucrative Spanish land bank.

The Spanish land, overlooking the Med, now features hotels and golf courses. Last year, it contributed 8.4m towards profits and will generate 5m-6m annually for the foreseeable future, as the group has just been granted planning permission on another 1,000 acres.

That land was the diamond down Costain's troubled coal mine. It helped pay for the recovery as did the three shareholders who took an 80pc stake in the rescue. One investor has sold out, increasing the free float to a more reasonable 35pc.

But the real success has been the asset management business. Working on cleaning and filtration plants and laying pipes now accounts for 50pc of the company's turnover. It is good margin, reliable, long term work. And Costain now has 20pc of the UK market with a 1.1billion order book.

There are worries about its pension deficit but the group has proved itself worthy of backing. On 47p, the shares trade at 10.3 times forecast earnings - a discount to the sector. Questor recommended buying at 42p in September. If you didn't then, do so now.

robinhood - 06 Apr 2005 10:31 - 5 of 369

bot some yesterday at 48.25 but do not understand the ask staying at 49 as there seem to be a lot of buying around today willing to pay that lvl

pjstanton - 12 Apr 2005 08:39 - 6 of 369

Bit of movement today. Is this the start of the "big push" ??

Hope so

regards

Peter

metamick525 - 09 Jun 2005 07:20 - 7 of 369

Costain Group PLC
09 June 2005

Costain Group PLC

('Costain')

Preferred Partner for Bristol Water

Costain announces that it has been selected by Bristol Water as its preferred
partner on its AMP4 programme under a five year framework agreement.

The programme will include Bristol Water's treatment works, reservoirs, trunk
mains and pumping station improvements. The capital value of the contract to
Costain and its supply chain partners, Purac and Black and Veatch Consulting, is
approximately 50 million over the five year period, subject to performance
reviews.

The selection as preferred partner follows an extensive tendering process by
Bristol Water and final selection was based on Costain's ability to deliver long
term service quality to Bristol Water's customers.

Stuart Doughty, Chief Executive of Costain, said:

'We are delighted to have been selected as preferred partner by Bristol Water.
Costain has built a pre-eminent position in the water industry and is now widely
recognised as partner of choice.'

9 June 2005

Enquiries:

Costain Group PLC Tel: 01628 842 444
Stuart Doughty, Chief Executive
Graham Read, Public Relations

College Hill Tel: 020 7457 2020
Mark Garraway
Matthew Gregorowski

This information is provided by RNS
The company news service from the London Stock Exchange DAAK

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2005 MoneyAM

pjstanton - 09 Jun 2005 10:08 - 8 of 369

Broker upgrade to 56p
And the rest please.
These contracts just keep on coming
Peter

AFX 9-06-05

LONDON (AFX) - Costain Group hardened 3/4 pence to 49-1/4 in response to news that the company has been selected by Bristol Water as its preferred partner on its AMP4 programme under a five year framework agreement.

The programme will include Bristol Water's treatment works, reservoirs, trunk mains and pumping station improvements.

Costain said the capital value of the contract to Costain and its supply chain partners, Purac and Black and Veatch Consulting, is some 50 mln stg over the five year period, subject to performance reviews.

Numis advised clients to 'add' to their holdings, with a price target of 56 pence. The house believes that the strategy at the group remains firmly on track, and the stock remains one of its preferred picks in the construction sector.

fjb/ec

lizard - 17 Aug 2005 19:13 - 9 of 369

i hear broker arbuthnot has issued a buy rec on cost today - does anyone have it and can they post it?.

lizard - 24 Aug 2005 21:19 - 10 of 369

seem to be hovering around the fifties- some positive news to accompany recent positive news may do it?- they are not even mentioning contract wins under 70m. as confirmed on cost website. figures set to be better 2nd half of year to incorporate vast contract wins.

lizard - 03 Sep 2005 17:36 - 11 of 369

solid results- positive growth and a dividend in 2006 bodes well for future with this new structure.

lizard - 09 Sep 2005 10:02 - 12 of 369

what is going on with cost at the moment?

pjstanton - 29 Sep 2005 08:13 - 13 of 369

If it gets near 40p, then I'm back in for a lot more.
So undervalued, what on earth is going on
Peter

ethel - 29 Sep 2005 08:43 - 14 of 369

Seems to be one of those companies that The Market never forgave.My old stockbroker referred to COST as "that old dog....a rubbish share"!!!!!!!
Very sad to see such a survivor doing SO well yet being ignored by investors.Sometimes I find it hard to believe why some companies do not inspire confidence despite the financials proving otherwise.
Still,there must be 10p profit in there????
Ethel

lizard - 29 Sep 2005 21:20 - 15 of 369

ethel- perhaps your broker should view the 5yr chart for cost- encouraging!.

lizard - 12 Oct 2005 14:32 - 16 of 369

another nice contract win for cost today- with the mkt acting in its usual way i.e doing f all?. beyond me. perhaps if cost had a major disaster we would see a rally?.

pjstanton - 12 Oct 2005 16:51 - 17 of 369

The whole way the MM's look at the share price of Costain really beggars belief.
Getting close to my topping up price anyway.

Peter

ethel - 12 Oct 2005 18:47 - 18 of 369

Maybe their profit margins are too low for many people.Plus,is'nt there a new man at the top or am I confused?Too tired to check.Is the pension fund in a horrible state?
But the fact remains that there are some cos that the market never really forgives,even if they have recovered.
This is a bit crazy,a company with forward orders worth millions yet the sp is stuck in this silly 40-50p range.Woolworths is stuck in this sort of 10p trading range.Who wants to trade this sort of share?Short term traders.This does'nt reflect any confidence in the future.What does someone know about COST that we don't know?
Will there be work in Pakistan for them?
Lots of questions....
The five year chart does'nt show increases in pounds like some companies I could mention.

lizard - 13 Oct 2005 08:58 - 19 of 369

i don't know what it is but it is not just costain that is doing nothing- vast majority of my portfolio is either static painfully slow AND moving down?- need some excitement !!!!!- i guess it could be rubbish stock selection?.

lizard - 19 Oct 2005 16:05 - 20 of 369

Numis out with broker buy note for costain and rok property prefered co's in sector add for balfour. price target for cost 58p. note 17/10/05

lizard - 02 Nov 2005 12:05 - 21 of 369

excellent news on the spanish land acquisition- also numis reiterates buy rec. also stating potential for dividend in 2006.

lizard - 16 Nov 2005 09:39 - 22 of 369

yet again more contract WINS for costain the preferred bidder.

swseun - 05 Dec 2005 00:31 - 23 of 369

guys, I am new in COST, but look like it is going to up up again soon, any comment?

cheers
sw

lizard - 05 Dec 2005 11:31 - 24 of 369

hope so swseun- next results will be interesting. did you see cost tipped somewhere to buy or like the rest of us like their potential?.

lizard - 09 Dec 2005 15:04 - 25 of 369

only encouraging news from cost -no mkt reaction as usual?.

lizard - 12 Dec 2005 12:32 - 26 of 369

would be good if we could break 44p level.

lizard - 03 Jan 2006 09:45 - 27 of 369

positive start- spoke to cost and they are looking at dividend payments so hopefully will get some news in 06 also pensions.

need some good results to push through 50p. which is looking good at this stage.

lizard - 03 Jan 2006 12:22 - 28 of 369

tipped in telegraph for stocks for 2006.

top share- costain

top sector- construction.

lizard - 04 Jan 2006 11:51 - 29 of 369

good start hope we can start a positive run now?. when are the olympic contracts awarded that could be a further boost for cost?.

lizard - 07 Jan 2006 13:03 - 30 of 369

some big trades going through at fridays close- next week?. better week.

ellio - 09 Jan 2006 12:01 - 31 of 369

edging ever closer to 50p, breakout!

lizard - 12 Jan 2006 21:34 - 32 of 369

let's hope so ellio- look as though update went down ok so far.

still far too low imo.

lizard - 16 Jan 2006 13:42 - 33 of 369

nice contract win rns out today 400m jv agreement.

ellio - 19 Jan 2006 10:29 - 34 of 369

Personally, I think they are being held back prior to the interim results, if they declare a divi, rerating could be on the cards if they don't may drift sideways at this level until the next update, in any event 50 p break may signal that the results/content is going to be poisitive.

From another angle how long can Costain continue as an independent surely one of the many UK or international contractors may start to see Costain as a favourable bolt-on, aquisition. Alternatively they may decide to bolt-on a smaller contractor.

When you sit down and analyse Costain they look very attractive on numerous fronts

lizard - 19 Jan 2006 11:04 - 35 of 369

agree ellio- if they could resolve the pension thing and offer a dividend it would make a more attractive buy for investors.

not the only co with this issue but i think long term others will follow rentokil now coop strategy on alternative arrangements for final salary pension.

forward order book looking encouraging though.

lizard - 26 Jan 2006 09:19 - 36 of 369

will cost get a slice of the nuclear building pie?- viewed their web and highlighted in company magazine. in a position to decommission old and build new. already active in this sector.

ellio - 01 Feb 2006 15:37 - 37 of 369

late push for cost, 50p break will be good

lizard - 01 Feb 2006 16:21 - 38 of 369

i have 48p as resistence i think the reason for it trading slowly. through 50p would confirm a breakout!

lizard - 02 Feb 2006 09:46 - 39 of 369

we need some buying the spread is geared to try and push through resistence.

ellio - 06 Feb 2006 10:44 - 40 of 369

major resistance at 50p, just bounces off it every time

lizard - 06 Feb 2006 11:36 - 41 of 369

i think the resistance was around 48p mark ellio- i think this is just a psychological level in trading terminology. it is getting there!>

ellio - 06 Feb 2006 13:09 - 42 of 369

yes you're correct, 50p would confirm

lizard - 06 Feb 2006 13:57 - 43 of 369

50p+ for break out!

ellio - 06 Feb 2006 16:02 - 44 of 369

hoping

lizard - 17 Feb 2006 10:30 - 45 of 369

I HOPE WE GET A DECENT RUN UP TO RESULTS?.- i think it was mentioned that second half figures should be much improved as contracts were geared from this time.

ellio - 17 Feb 2006 12:10 - 46 of 369

hope so, 48p is painfull

ellio - 17 Feb 2006 12:15 - 47 of 369

The year has seen significant contract wins especially in water and roads. In
water, where Costain has a market-leading position, a number of the five year
framework water contracts have the option of being extended by a further five
years. As at 31 December 2005, the Group had a record forward order book of
1.9bn.

ellio - 17 Feb 2006 12:17 - 48 of 369

Amec or others may come-in for Costain, they would be easily absorbed by many of the international contractors, similar could be said of others of course, but Costain should be nearer 60p imo, hopefully the results will agree, we shall see and hope!

lizard - 20 Feb 2006 14:32 - 49 of 369

?.

lizard - 20 Feb 2006 14:32 - 50 of 369

ellio- we need something to put life into this bugger!. i see the potential there but obviously the mkt doesn't at this stage. results need to be encouraging.

ellio - 20 Feb 2006 14:43 - 51 of 369

I'm hope they are good as there is major resistance at 48p, makes me want to pull out! but am hoping it's being held for a reason?

lizard - 20 Feb 2006 15:23 - 52 of 369

i'm riding the storm until results if not positive will move on.

ellio - 20 Feb 2006 15:56 - 53 of 369

if they announce a divi, it'll motor, possibly 80p in short term, hoping for 65p near/after results, there's optimism for ya

ellio - 22 Feb 2006 20:33 - 54 of 369

looks positive actually, tested 46p twice, good support, may push on from here?

lizard - 22 Feb 2006 22:16 - 55 of 369

lets hope so ellio- very tight range here!.traded 50p in recent run. i suppose we have res at 48p and 50p is an important psychological level in trading. may need some news to break key levels.

ellio - 23 Feb 2006 09:33 - 56 of 369

agreed, bounced nicely again though to 48'ish, when are results due, march?

lizard - 23 Feb 2006 09:48 - 57 of 369

i had an email from clive franks costain announcement to preliminary results wed 15th march.

ellio - 23 Feb 2006 15:53 - 58 of 369

ok, good day today, the way it bounced off 46 was very bullish imo.

lizard - 23 Feb 2006 20:42 - 59 of 369

showed a bit of strength considering more sells than buys. still need to get buyers back but await results.

lizard - 01 Mar 2006 10:13 - 60 of 369

a bit of strength slowly coming in can we break 50p -results not far off!.

ellio - 01 Mar 2006 10:57 - 61 of 369

Its going to try 50p again!!!!

am convinced swift rise to 60 if we break 50

lizard - 01 Mar 2006 11:30 - 62 of 369

hope so!- are we the only holders of costain on this thread ellio?. results could lead the way if positive.

lizard - 08 Mar 2006 08:54 - 63 of 369

now can we hold 50p second time around?- nice build up to hopefully positive results would be good!.i

ellio - 08 Mar 2006 09:16 - 64 of 369

Well we got a break, not quite there yet really but looking much better.

I think we are currently the only followers, which isn't surprising considering the excellent opportunities elsewhere, however, I don't like to have all my eggs in one basket and am probably a bit heavy on mining and oil stocks at the moment so Cost is a bit of welcome distraction! still I believe if they restore divi, cost is an excellent long term hold. Also mowlem has been taken out, so could cost!

pjstanton - 08 Mar 2006 09:27 - 65 of 369

Would love to think that it could be taken over, but surely there are still the Malaysian shareholders who came to the "rescue" back in the dark days.
Not quite sure what proportion of the equity that they hold, but at one time it was substantial.

Still 50p is great, but the value is very much more, just look at the forward order book and hopefully really good results to come. A dividend, well I hope so, but I think you may have to wait a while yet.

My 2 cents worth.

regards

Peter

ellio - 08 Mar 2006 12:27 - 66 of 369

Thanks Peter,

My guess is that if an offer was made the Malaysians might well take it!

ellio - 10 Mar 2006 09:31 - 67 of 369

50 on the offer, we are consolidating above 48 good!

ellio - 14 Mar 2006 13:32 - 68 of 369

COST results tomorrow, up in anticipation or because they'll be good?

lizard - 14 Mar 2006 14:08 - 69 of 369

both hopefully !- expected to be inline though.

ellio - 14 Mar 2006 14:11 - 70 of 369

I would say so, think the divi is the deal breaker, if they still don't announce one, may fade for a while, if they do will push on quickly imo.

pjstanton - 14 Mar 2006 18:42 - 71 of 369

If they announce a divi then 60p + is on the cards, but no Divi & back to 45p.

pjstanton - 15 Mar 2006 07:13 - 72 of 369

Well that's a disappointment, jam tomorrow - again

lizard - 15 Mar 2006 07:55 - 73 of 369

eh- looks good to me!?

ellio - 15 Mar 2006 08:46 - 74 of 369

It may be jam tomorrow, but they have actually got the jam to give, they can repay the pension blackhole over time(which company hasn't got a black hole, Costain's aint the biggest ever).

eps of 6.7p is the bottom line, divi will be restored and everything looks pretty rosie, if it didn't they would be down, I'd be happy with flat-1p rise today with a steady climb to 60p, thats the minmum they should be with these results, divi was the cherry on a very iced cake!!

lizard - 15 Mar 2006 09:10 - 75 of 369

agree ellio- flat or just up is good. you can deliver impressive results and still be down. but usually the case the share has had a good run to results where cost has been pretty flat. growth is encouraging!.

ellio - 15 Mar 2006 09:25 - 76 of 369

54p resistance, if we walk that 60p here we come, need to check their peer group but 12x is about average, 70p is fair price for cost, 80p still good value and 100p is generous on forward eps of 8p, the facts are there!

ellio - 15 Mar 2006 11:20 - 77 of 369

I think the results have gone down well!

ellio - 15 Mar 2006 11:40 - 78 of 369

might test 54 today,yes!!

lizard - 15 Mar 2006 12:01 - 79 of 369

i think 100p -is a fair target for cost med term. it may be slow in coming 2yrs+ but i think these are worth holding. good solid progress.

ellio - 15 Mar 2006 12:08 - 80 of 369

L,

your right no panic on these, nice long term hold, may tuck some into the isa next year

lizard - 15 Mar 2006 12:11 - 81 of 369

slightly annoying e, you see mkt summary on all related sites- no mention of cost. hope for some positive media attention in tomorrows papers. for what its worth ic report on all results- possibly next weeks edition now though. 60p s/term target still will hold.

ellio - 15 Mar 2006 12:17 - 82 of 369

In the current enviroiment, what with amec divesting parts and aquisitions all over the place, Costain looks very well positioned(only the pension pot is a small cloud) I like them a lot because most of the others amec, babcock, etc look expensive in comparision!! or rather cost are cheap?? eps of 8p this year =5x, cost has a way to go jst to catch up with the others, order book is huge, olypics coming up etc, not bothered about the wider coverage, market will be aware of cost's progress!!

lizard - 15 Mar 2006 12:23 - 83 of 369

i think the times at the start of the year proposed stock of the year costain and sector of the year construction. so we will see.

lizard - 16 Mar 2006 09:04 - 84 of 369

a slow start considering positive results- i think a few broker notes /recommendations are needed. although most brokers hold a add/ buy rating.

new sp targets could do it.

pjstanton - 16 Mar 2006 14:34 - 85 of 369

From todays Telegraph

Costain finds novel way to cut deficit - by matching payments to dividends
By Alistair Osborne (Filed: 16/03/2006)

Costain has devised a novel way of reducing its pensions deficit, agreeing to match dividends to shareholders on a pound-for-pound basis with payments into the scheme.

The engineering and construction group, which has a 69.5m deficit net of deferred tax, has agreed the plan with the scheme's trustees and the pensions regulator David Norgrove, who has "agreed the proposal in principle".

Andrew Wyllie: 'This is an elegant and ground-breaking solution'
The plan was hatched as Costain prepares to return to the dividend list. Last April, investors approved a restructuring of the company's -balance sheet to reset its distributable reserves at nil. Costain hopes to pay a token final dividend this year.

Andrew Wyllie, who took over as chief executive in September, said the plan would see shareholders and pensioners treated equally.

"I was very keen to get together a strategy that tied up the two issues in the company going forward," he said. "One of the most common questions was 'What are you doing with the dividend and the pensions deficit?' This is an elegant and ground-breaking solution for all parties involved."

Costain closed its final salary scheme to new members from June 2005, while from this April the scheme is being changed to one based on career average earnings.

At the same time, Costain will increase its contributions to the scheme from 15.6pc of pensionable salaries to 21.6pc, while active members will see their contributions rise from 8pc to 10pc.

The scheme has 1,400 members currently working for Costain, just under 4,000 deferred pensioners and a little over 2,000 pensioners.

The pension plan was revealed alongside a 138pc rise in full-year profits to 25m pre-tax, but adjusting for Spanish property profits, the underlying improvement was 6pc. Turn-over rose 11pc to 773m. Costain shares rose 2 to 53p.

Mr Wyllie said he would focus activities where the group had leading market positions, such as water and road projects, and away from, for example, high-rise residential.

Costain is working on the Channel Tunnel Rail Link project at St Pancras, where the company in charge of the development - London and Continental Railways - faces a potential bid.

Asked if he thought a bid could delay the project, Mr Wyllie said: "I have absolutely no sense of that whatsoever. There's total focus on getting it built."

lizard - 16 Mar 2006 15:00 - 86 of 369

good results now lets see the sp mirror this strong performance!.

ellio - 17 Mar 2006 10:05 - 87 of 369

no rest until 70p!

lizard - 17 Mar 2006 17:03 - 88 of 369

its about time this stock got the attention it deserves. impressive results and growth looks encouraging. pick of the sector for me atm!.

ellio - 17 Mar 2006 17:12 - 89 of 369

If it goes to 70p it may well carry on to 100p+, thats wishfull thinking of course, however, you could say that on an eps of 8-9 for 2006 and a re-rating to 10-12x, bingo 100p+

In other words cost has plenty of upside imo and if the the divi is restored soon, well lots of buying!!

keep the faith L

lizard - 18 Mar 2006 13:58 - 90 of 369

agree 100p has to be a long term target- thats if they have not received a bid by then?-

ellio - 18 Mar 2006 23:48 - 91 of 369

Limited press coverage L, was just looking at similar companys in Costains sector and Carillion who are a slightly larger Costain, in some respects, are rated at 15x, so 100p puts Cost on a par with their peers imo, could be absorbed by Carillion!!! at a premium.

Gut feeling, Cost will be taken out at 135p!!

lizard - 19 Mar 2006 09:34 - 92 of 369

i'd settle for that!.

lizard - 20 Mar 2006 10:42 - 93 of 369

some decent buys this am- ratio 3 to 1 in favour of buyers. so far!.

ellio - 20 Mar 2006 11:06 - 94 of 369

Price is being held back!! expect some movement later, 60p breakout L, heading to 70P!!

lizard - 20 Mar 2006 15:44 - 95 of 369

still being held!?- positive day on the buying front about 730k v 200k!.

lizard - 21 Mar 2006 11:53 - 96 of 369

held back AGAIN - 1.8m buys v 98k sells. still frustrating.

ellio - 21 Mar 2006 11:57 - 97 of 369

They will need to find some sellers soon, presumably they were them at 56.5p, we shall see, it'll take a while I'm sure to get to 70p! it's coming though.

ellio - 24 Mar 2006 13:21 - 98 of 369

Looks like we have a new level! 55p solid from here

ellio - 24 Mar 2006 16:21 - 99 of 369

Patience my boy!

ellio - 27 Mar 2006 09:32 - 100 of 369

LIZ, YOU GONE ON YOUR HOLIDAYS!

lizard - 27 Mar 2006 10:52 - 101 of 369

ellio, sold stake in cost - want to take more risk. but think this is a decent stock with encouraging med /long term potential. i like the look of goo and have increased holding!.

pjstanton - 27 Mar 2006 14:57 - 102 of 369

Somebody took a few today with a buy of 550k
Slowly but surely up to 75p by next results I suspect

Peter

ellio - 27 Mar 2006 15:19 - 103 of 369

Think we'll see it sooner than tht Pj!!

My bet is a break of 60p soon, before working to 70p by May, now there's optimism, if we get a big contact announcement along the way or some news, 75p easy, 2-3 months max

Pj, am expecting 100p+ for cost.

ellio - 31 Mar 2006 09:28 - 104 of 369

tapping on the 60p door.

ellio - 31 Mar 2006 09:28 - 105 of 369

tapping on the 60p door.

cynic - 28 Apr 2006 14:43 - 106 of 369

there are plenty of more clever peeps than i who frequent this site, who may (dis)agree with me, but from what i can see, this company looks to be well undervalued ..... though i am sure it will not provide the fireworks of some of the commodity stocks, i have been more than happy to top up my holding just now.

my recommendation assuredly will not meet the approval of some who have the patience and brains to research in depth, but would be more than happy to hear more

ellio - 28 Apr 2006 16:33 - 107 of 369

Costain is solid!! great value long-term, as you say steady as she goes don't expect the fireworks, I have a new short term target of 65p, 3-6 months

pjstanton - 15 Aug 2006 14:25 - 108 of 369

Results fairly soon I think??
Anyone know the dates and can post them here, thanks.

Peter

pjstanton - 12 Sep 2006 12:19 - 109 of 369

From the "iii" board
=======================================

Costain
Target price and estimates up on back of more focused strategy
We have raised our share price target by 13% from 54p to 61p, taken the
recommendation from Add to Buy and nudged up our underlying
estimates in the wake of the recent interim results. Although these
involved hefty closure costs and restructuring losses, we believe the
group is more focused and lower risk than in the recent past.
Our target is a 20% discount to our sum of the parts - a prudent view taken as a
result of the H1 losses and the relatively weak balance sheet. But we are likely
to narrow this over time if the group avoids further disappointments.
It involves, in our view, fairly undemanding multiples based on our estimated
normalised margins and a 30% tax rate (see below). The 45m PFI valuation is
probably low in the light of the recent Carillion disposal.
The target equates to a 2006 P/E of 12.9x, falling to 11.5x for 2007 and 10.0x for
2008 - low against peers even given the recent (temporary in our view) breach of
Ebitda multiple banking covenant.
We have increased our 2006 pre-exceptional PBT by 2.4% from 21.2m to
21.7m (assuming now that the 3.5m PFI gain is underlying not exceptional)
and by 1.3% for 2007 (see below). We have pushed the start of dividend
payments to 2007.
We have been impressed by the more focused strategy brought in by new CE
Andrew Wyllie and FD Tony Bickerstaff, both from Taylor Woodrow
Construction. The emphasis has been on working in fewer sectors and with
better quality clients in Civil Engineering and Building as well as attempting to
overhaul the risk structure. The first act has been the bold move of summarily
closing the loss-making International division (previously a Costain "sacred cow"
in our view) and a commitment to closely monitor the loss making but, in our
view, sound Oil & Gas engineering business. Orders in the ongoing business
were up 19% at the half year, indicating solid demand.

--------------------------------------------------------------------------------

pjstanton - 29 Sep 2006 09:55 - 110 of 369

Start of the "Big Push" ???
0.75p is still my target

Peter

pjstanton - 02 Nov 2006 08:52 - 111 of 369

Been away 4 a while.
Going on nicely, slow but sure

Well well, a long term incentive plan priced at one pound per share, and with the shares back to the year high it bodes well for the next year and beyond.
Still keeping my eye out and my holding in Costain
=========================================================================

Costain Group PLC
10 October 2006

Costain Group PLC
('the Company')

Long-Term Incentive Plan

The Company announces details an Award in the form of an option with an exercise
price of 1 per exercise (whether on exercise of the entire Award or any part of
it) over 576,310 ordinary shares of 5p each made on 10 October 2006 under the
Costain Group PLC Long-Term Incentive Plan (LTIP) the award can only be
exercised on the achievement of specified performance conditions after the end
of the Company's Financial Year ending 31 December 2009. An Award was made to
the following Executive Director:

Name: Number of Shares subject to the Award

Mr A O Bickerstaff 333,333

Other Awards were made on 10 October 2006 under the LTIP to employees who are
not Executive Directors of the Company.

Contingent Awards

Pursuant to the terms of Mr Bickerstaff's agreement the Company granted to Mr
Bickerstaff on 9 October 2006:

a. a contingent Award of 120,000 ordinary shares of 5p each in the capital of
the Company. The Award will vest dependant on the extent to which certain
performance targets are satisfied for the Financial Year ending 31 December
2007; and

b. a contingent Award of 350,000 ordinary shares of 5p each in the capital of
the Company. The Award will vest dependant on the extent to which certain
performance targets are satisfied for the Financial Year ending 31 December
2008.

10 October 2006

Enquiries:

Costain Group PLC Tel: 01628 842575
Clive L Franks, Company Secretary

College Hill Tel. 020 7457 2020
Mark Garraway
Matthew Gregorowski

pjstanton - 02 Nov 2006 19:16 - 112 of 369

Ellio you were not too far out in your prediction, a few more days and I reckon we'll see the 65p.

I'm telling you chaps and chapesses, this stock is a screaming buy up to 75p.
After that I could not say, but it could even go further.

Watch this space

Peter

pjstanton - 08 Nov 2006 09:07 - 113 of 369

Free Sunshine for some on this cold & foggy morning
===================================================

Costain Group PLC
08 November 2006

Costain Group PLC

('Costain' or 'the Company')

Analyst and Investor Site Visit

Costain is hosting a site visit for UK analysts and institutional investors to
its property developments in Southern Spain over the next two days. During the
course of the trip, senior and operational management will be giving
presentations on the Group's Spanish property activities, business development
and activities in the Nuclear sector. These presentations will be available on
the Company's website,
www.costain.com
during the course of the morning.

No new material information will be disclosed during the visit, nor will there
be any statement on current trading.

8 November 2006

pjstanton - 17 Nov 2006 17:36 - 114 of 369

Still creeping up and a very low p/e

Going to make the targets by year end IMHO

Peter

pjstanton - 20 Nov 2006 12:20 - 115 of 369

Still getting there chaps & chapesses

Peter

required field - 12 Mar 2008 22:57 - 116 of 369

Nobody's mentioned Costain as of late...most ranting on about superdud SEO for some reason or another....but looking at behind the scenes at COST...this seems to be a cracking set of results...I used to have some stock when they were priced at 40 to 50p and thought they were cheap then but now at 22p with a dividend and pension matters being solved and into profit...the share price could be a gift !

required field - 18 Mar 2008 10:05 - 117 of 369

Rising and rightly so...should be around the 30p mark !

required field - 19 Mar 2008 17:18 - 118 of 369

Rare blue for me today...though if this market carries on like this even this gem will succumb to the downward trends !

required field - 20 Mar 2008 09:45 - 119 of 369

Bucking the trend here...could call it a near defensive stock !

required field - 20 Mar 2008 23:34 - 120 of 369

Director buying today...good be a good sign...I think this is heading for 30p !

required field - 25 Mar 2008 16:07 - 121 of 369

Still climbing...Robbie Burns now in !, (nakedtrader).

moneyman - 15 May 2008 10:04 - 122 of 369

Do you have a link to that info please?

The Other Kevin - 15 May 2008 13:07 - 123 of 369

Summat's up!

pjstanton - 15 May 2008 14:06 - 124 of 369

This was yesterday, I guess delayed reaction ??!!

RNS Number : 3691U
Costain Group PLC
14 May 2008

COSTAIN GROUP PLC
("Costain")

Costain awarded major Felixstowe container port contract

Costain is pleased to announce that it has been awarded a major contract by Hutchison
Ports (UK) for the construction of two berths at
Felixstowe container port, totalling 730m in length. The contract, known as Felixstowe South
Reconfiguration Phase 1, will enable more of
the world's biggest container ships to dock at Britain's largest container port.

The contract is scheduled to last two and a half years.

Costain has carried out a number of contracts for Hutchison Port Holdings, the world's
leading port investor, developer and operator, at
Felixstowe, Thamesport and Freeport, Bahamas.
Andrew Wyllie, Chief Executive of Costain, said:

"We are delighted to have been awarded this contract, which takes our forward order book
to in excess of £2 billion. Hutchison Ports
(UK) is a long-standing client and to secure repeat order business on this scale is further
testimony to the high regard that our blue-chip
customers have for Costain."

2517GEORGE - 05 Dec 2008 19:24 - 125 of 369

Bought some COST last week, today up to 16.18 there were 3 trades totalling 12k shares, then over the next 15 mins or so over 2.5m shares traded all buys except for 1/2m @ mid price. Good luck all
2517

required field - 06 Dec 2008 11:33 - 126 of 369

So did I, picked some up a couple of days ago....they are not short of work, and have less exposure to the housing market than others !, and the graph shows support around this level, hope it holds for a rise !.

required field - 08 Dec 2008 11:17 - 127 of 369

Real support level here......hope that it holds !.

2517GEORGE - 06 Jan 2009 10:02 - 128 of 369

Excellent contract win.
2517

required field - 07 Jan 2009 11:34 - 129 of 369

Yes, I hope that the sp does not now pull back to the 20p area once again !.

2517GEORGE - 08 Jan 2009 09:04 - 130 of 369

Trading update looks fine, 100m cash as well.
2517

required field - 30 Jan 2009 09:19 - 131 of 369

Another good contract win by Costain,...there are 2 previous sp patterns here: the May and September camel bumps...will this rise become a third ?.....rises up and then down and then another rise (where we are now) possibly !.

2517GEORGE - 30 Jan 2009 09:27 - 132 of 369

rf-------Just read contract news myself, COST seem to be doing quite well atm, the 8th jan update indicates no nasties, so I feel the sp is a tad too low.
2517

required field - 30 Jan 2009 09:32 - 133 of 369

The sp should be around the 30p mark...but then again there are plenty more companies that are undervalued...take AFR (on Aim) for instance....sp really beaten low !....for COST some patience will be needed....but a serious rise must be coming !.

2517GEORGE - 30 Jan 2009 09:38 - 134 of 369

18 months ago they traded between 40p-50p range but I believe they were saddled with debt at that time, hence their drop to below 20p.
2517

snakey - 30 Jan 2009 18:48 - 135 of 369

Ripe for buyout.

2517GEORGE - 23 Feb 2009 12:46 - 136 of 369

Bought again this morning but they haven't registered on the live streaming. Final results due 11th March, no nasties according to the february update, co valued @ around 150m, has cash exceeding 100m, record order books of 2b, not exposed to the house market, PE of 6.4 and a dividend to boot. Looking good.
2517

required field - 11 Mar 2009 09:22 - 137 of 369

Coming in under everybody's radar this one....as much cash in hand as the market cap !....whilst most similar companies are reporting doom and gloom, little Costain is showing good improvements in performance.

spitfire43 - 11 Mar 2009 18:23 - 138 of 369

The results looked very solid, I couldn't see any negatives in there, it looks a good buy from here with nice support at 19p which the sp has bounced off three times. Some large sell transactions today which lowered the price.

2517GEORGE - 16 Mar 2009 10:07 - 139 of 369

Another major contract win.
2517

XSTEFFX - 16 Mar 2009 12:29 - 140 of 369

2517GEORGE - 07 Apr 2009 15:42 - 141 of 369

Struggles to progress further than the 23.5p mark.
2517

spitfire43 - 07 Apr 2009 16:29 - 142 of 369

It's a classic range bound stock between 19 to 24p and I can't see it changing just yet. Good for trading short term though.

2517GEORGE - 09 Apr 2009 10:17 - 143 of 369

Another good contract win for COST.
2517

required field - 09 Apr 2009 10:19 - 144 of 369

About to break out of the trading range ?, if so : it could jump up a few pennies or so !.

2517GEORGE - 09 Apr 2009 10:23 - 145 of 369

Yes looks that way rf, it's been slow going despite good news and no debt, may have been held back by the dilutive effect of last years rights issue.
2517

spitfire43 - 09 Apr 2009 10:28 - 146 of 369

Currently on the verge of a break out, if they do breakout you should see a golden cross on the charts shortly.

They keep pulling in new contracts.

2517GEORGE - 16 Apr 2009 14:10 - 147 of 369

Makes you wonder (it does me anyway) why another construction co doesn't t/o COST. For a premium of say 60% (sp 40p) outlay 250m an acquiring co gets 150m cash plus 2b of PFI contracts. Suspect I must be missing something, and perhaps there's some wishful thinking on my part.
2517

required field - 17 Apr 2009 08:27 - 148 of 369

Crossrail contract helping breakout !....about time this went up !....still way undervalued with huge backlog of excellent contracts, profits should rise considerably in years to come !.

required field - 17 Apr 2009 09:11 - 149 of 369

Frankly, I'm surprised that there is not more buying of this stock.....if the numbers on Money Am are to go by....300000 only and some of those are sells !?.

2517GEORGE - 08 May 2009 12:05 - 150 of 369

Sold out of these for a near 20% profit, taking an age to really move and I suspect the market generally to be toppy and bought into NGL instead. Good look all.
2517

2517GEORGE - 08 May 2009 16:07 - 151 of 369

Crikey my timing IS improving, both on the selling and buying side.
2517

required field - 08 May 2009 16:16 - 152 of 369

26p is a resistance line ...I'm still in, if it can break this line I reckon 30p is on the cards....but nothing wrong with taking a profit georgy boy....I'm hoping we won't be going back to 22p again !.

2517GEORGE - 08 May 2009 16:19 - 153 of 369

rf---------I believe Panmure Gordon have issued today a sell note and target price below 19p, can't see it myself but.....
2517

required field - 08 May 2009 16:25 - 154 of 369

aaaaghh !.

required field - 08 May 2009 16:27 - 155 of 369

Nonsense sell note...really ridiculous...Costain has a heck of lot of cash and is earning big time..might effect the sp for a day but as long as the market doesn't tank this should be good for the upper 20's sooner or later !.

optomistic - 09 May 2009 12:19 - 156 of 369

With 100 mill cash and no significant borrowings with a huge forward order book I would say that Costain is more of a hold/buy than a sell.

Joe Say - 10 May 2009 08:59 - 157 of 369

A sell note - are they on planet earth ?

required field - 08 Jul 2009 09:45 - 158 of 369

It might be all doom and gloom at the moment but this little gem is gaining contracts all the time...they will have to be taking on staff to cope with the backlog of work...should be way above 30p this !.

required field - 09 Jul 2009 16:00 - 159 of 369

It's up....can it break free of it's shackles ?....stuck in this this 25p-26p range...

Joe Say - 09 Jul 2009 18:43 - 160 of 369

time for another sell recommendation no doubt

halifax - 09 Jul 2009 18:57 - 161 of 369

look at the market cap compared to the nav that may explain the sp.

required field - 09 Jul 2009 22:54 - 162 of 369

Well, I reckon that this is undervalued...don't forget that it gives a dividend....loads of cash in the bank...gaining big contracts all the time....from what I gather precious little debt or none at all...not very much exposure to the housing market, but a lot of good government work coming along...main market...Isable....(I'm starting to sound like a Costain salesman !).

required field - 15 Jul 2009 09:19 - 163 of 369

Is this about to break out ?.....looks like it..

required field - 15 Jul 2009 09:31 - 164 of 369

Thar she blows.....ahhhh.... yeeess at long last !.

XSTEFFX - 15 Jul 2009 09:50 - 165 of 369

required field - 15 Jul 2009 09:52 - 166 of 369

The graph says it all.

required field - 15 Jul 2009 20:01 - 167 of 369

Good rise today....might go as far as the mid thirties.....well worth that !.

required field - 16 Jul 2009 08:31 - 168 of 369

OK ..come on, who put the 1 share trade through...bit risky that...

investinggarden1 - 04 Aug 2009 09:37 - 169 of 369

Growth Company Investor - Buy recommendation

http://www.growthcompany.co.uk/recommendations/1063617/costain-cash-and-contract-rich.thtml

required field - 06 Aug 2009 15:56 - 170 of 369

On the move again...nice rising graph....excellent upwards trend.

2517GEORGE - 06 Aug 2009 16:03 - 171 of 369

Yes doing nicely, I sold out a couple of months or so ago and bought NGL since sold @ a profit, always thought (still do) they were too low, may get in again at some point. Good luck all holders.
2517

required field - 14 Aug 2009 08:37 - 172 of 369

Well my little favourite here has passed the 30p mark...go boy go!.

2517GEORGE - 14 Aug 2009 11:15 - 173 of 369

Paul Hill tips COST in the 'Moneyweeks roundtable' today, just 1 of 12 stocks that will weather the storm.
2517

2517GEORGE - 10 Dec 2009 11:50 - 174 of 369

Well this looks the point (see 171 above). sp not seen @ this level for a long time, ok their order book may well be trimmed back, but look interesting again now.
2517

ahoj - 17 Feb 2010 15:03 - 175 of 369

Given the contract today, 50p can be acheived this year IMO

required field - 18 Feb 2010 11:29 - 176 of 369

Just can't seem to get going...at this rate the vaue of cash in hand will exceed the market sp ...soon...CRAZY !....the marketmakers are just going to have to price this right up....this sp is nuts...

required field - 18 Feb 2010 12:19 - 177 of 369

I mean the market cap...sorry....

goldfinger - 23 Apr 2010 15:09 - 178 of 369

Opened a long here in Costain COST.

Both Fundies and TA look positive at the moment.

cost%201.JPG

Costain Group

Strong Buy... 40p SP target.... 63.3% Upside..... Broker... Arbuthnot Securities

required field - 23 Apr 2010 16:44 - 179 of 369

Just picked up a dividend, it looks a good one....I see Yell have been rising in the last month or so...

goldfinger - 23 Apr 2010 17:03 - 180 of 369

Yep got both.

cynic - 23 Apr 2010 17:08 - 181 of 369

i think TW is probably a better bet ..... good chart break out
also hold BDEV, but also like PSN which i don't now hold but on which i made a good profit

WOS is also an interesting one for this sector, which must surely be one for strong recovery in the coming months

Fred1new - 23 Apr 2010 20:18 - 182 of 369

Probably already seen.

Costain profit falls, increases divi

Date: Wednesday 10 Mar 2010

LONDON (ShareCast) - Engineering and construction group Costain revealed a decline in annual pre-tax profit after it was hit by increased pension interest charge.

However the group cheered investors by recommending a final dividend for the year of 0.55p per share, up 10% from the previous year.

Profit before tax fell to 18.1m for the year ended 31 December from 23.1m the year before. Revenue for the year increased to 1.1bn from 996m previously.

On an upbeat note, Costain said it was confident about future trading.

"We are confident that our position in markets underpinned by strategic capital expenditure, regulatory commitment or essential maintenance requirements will continue to stand us in good stead."

goldfinger - 24 Apr 2010 00:53 - 183 of 369

Got TW Cyners. Cracking rise today as was Cape.

Doing my weekend screener at the moment , only one duffer from my new system and the lolly is rolling in.

Hope we get through the election and hung parliament Ok.

Brokers very supportive of COST.

Will post sunday.

goldfinger - 24 Apr 2010 10:43 - 184 of 369

One of the reasons ive gone long on COST was this data that I dug out on the SC website relating to the order book for Costain and also future growth, both these Brokers paint a very bullish future......

10.03.10 :-0.25, (24.5) Costain has produced a solid set of FY results, says Panmure Gordon, with the adjusted pretax profit slightly ahead of consensus expectations and the 10% increase in the dividend/share an indication of confidence in its prospects. Keeps buy rating, and 29p target price, citing strong market positioning in infrastructure, energy and environment, supported by one of the best order books in the sector.

10-03-10 10.03.10 :-0.25, (24.5) Costain's FY '09 results are comfortably ahead of forecasts says Arbuthnot. For the current year to December '10 lifts pretax profit forecast to GBP20.5M from GBP18.5M as the loss in Community is much reduced and the IAS19 pension scheme net interest cost is reduced to GBP2.4M from GBP4.8M. Although the prospects for public spending continues to cast a shadow over the sector, says Costain has exposure to growth areas that are reasonably immune and focused on areas of less discretionary spend. Has a strong buy recommendation and 40p target.

cynic - 24 Apr 2010 18:30 - 185 of 369

sticky - do watch out and be ready to act very fast when the market turns down .... while momentum is currently and assuredly upwards, it cannot but cannot last .... whether or not the current euphoria lasts until say a week after election day is itself somewhat dubious - well that's what i think anyway

required field - 24 Apr 2010 18:34 - 186 of 369

Oil is over $85 for Wti and $87 for Brent...if this this holds up or goes further...the oilies should do well at the very least keeping ftse 100 up.

goldfinger - 25 Apr 2010 15:47 - 187 of 369

These superb bullish figures from the Brokers following this one might turn a few heads.

Simply far too cheap on a forward P/E of just 9.9 going into 2011, this as to be way undervalued.

Costain Group PLC

FORECASTS 2010 2011

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Panmure Gordon
23-04-10 BUY 19.50 2.18 0.91 22.10 2.46 1.00

Arbuthnot Securities
23-04-10 SBUY 20.55 2.40 0.90 22.00 2.60 1.00

Investec Securities
22-04-10 BUY 20.78 2.29 0.91 21.67 2.39 0.95

Shore Capital
16-04-10 BUY 20.10 2.30 21.00 2.50

Numis Securities Ltd
10-03-10 BUY 19.70 2.30 1.00 21.30 2.50 1.10

FinnCap
04-03-10 HOLD 20.00 2.30 1.00

2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 20.12 2.30 0.91 21.67 2.49 1.00

1 Month Change -0.00 0.00 0.00 0.01 0.00 0.00
3 Month Change 0.38 0.02 -0.09 1.51 0.23 0.02

GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS -21.75% 15.90% 8.26%
DPS 3.33% 17.42% 9.89%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA 18.80m 23.64m 25.46m

EBIT 18.80m 22.23m 23.53m

Dividend Yield 3.13% 3.68% 4.04%

Dividend Cover 2.56x 2.53x 2.49x

PER 12.47x 10.76x 9.94x

PEG -0.57f 0.68f 1.20f

Net Asset Value PS -0.76p 0.90p 2.50p

goldfinger - 25 Apr 2010 19:14 - 188 of 369

If we put a bit more flesh on the bone and look at the Broker SP targets we have the following......

- Costain Group Industrial Strong Buy 40 24.5 63.3% Arbuthnot Securities

40p target 63.3% upside.

Date Broker name New Price Old price target New price target

- 10-Mar-10 Numis Buy 24.50p 30.00p - Reiteration

- 05-Mar-10 Panmure Gordon Buy 24.00p 29.00p - Reiteration

So very bullish all in all with a SP target range of between 40p and 29p.

goldfinger - 26 Apr 2010 07:59 - 189 of 369

Hoping we get off to a solid start to the week.

skinny - 28 Apr 2010 16:28 - 190 of 369

Scrip Dividend Reference Price

The Company announces that the Scrip Dividend Reference Price for the fully paid shares in the Company to be issued to shareholders who elect to receive the scrip dividend alternative for the final dividend for the year ended 31 December 2009 is 24.3 pence per ordinary share of 5 pence each.

The Scrip Reference Price has been calculated in the usual way as the average of the middle market quotations for the Company's shares as derived from the Daily Official List of the London Stock Exchange for the five business days commencing on the ex-dividend date. The Company's ordinary shares were marked ex-dividend on 21 April 2010.

Further Information

Shareholders wishing to receive the scrip dividend in respect of the final dividend for the year ended 31 December 2009 and who have not already submitted a mandate form, should return a mandate form to Equiniti Limited, Share Dividend Team, Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA to arrive no later than 29 April 2010.

skinny - 06 May 2010 07:50 - 191 of 369

AGM and Interim Management Statement

Overview

Following on from the excellent performance in 2009, the Group has continued to perform well and in line with the Board's expectations.

The Group's operations continue to benefit from its focus on targeted blue chip customers whose major spending plans are underpinned by strategic national priorities, regulatory commitments or essential maintenance requirements in chosen sectors.

The Group continues to demonstrate its resilience in a difficult economic environment.

Building on our success and as announced in March, we are now implementing the next stage of our strategy, 'Choosing Costain', which will ensure that the Group enhances its position as one of the leading players in the industry. This will expand further Costain's market position across the design and engineering, construction, and operations and maintenance spectrum. This is designed to enhance and broaden the spread of business and earnings profile over the medium-term.

ahoj - 10 May 2010 13:30 - 192 of 369

Hi,
I have a dispute with my broker as they closed all my CFD opsitions by mistake, assumed that Costain was consolidated on Friday, so the margin call.

They refuse to do anything, giving wrong record of what happened!!

Can someone advicse me what to do. FSA investigation may take eight weeks!!!

Is there any solisitor or organization to help me?

Many thanks,
Ahoj

skinny - 10 May 2010 15:01 - 193 of 369

Ahoj - I'm not sure I see how the consolidation caused a margin call. If you had 10,000 shares @23p pre-consolidation, the cost was 2,300. Post consolidation you have 1,000 shares @2.30 - cost the same - 2,300.

skinny - 21 May 2010 07:35 - 194 of 369

Costain Skanska JV awarded second Crossrail contract

Costain, in joint venture with Skanska, announces that it has been awarded a second contract by Crossrail, as part of its enabling works framework, for the construction of the Pudding Mill Lane Portal.

2517GEORGE - 21 May 2010 10:19 - 195 of 369

Pre consolidation the sp was trading between 22-24p, now it's the equivalent of 19.5p tempted to get back in at this level, but that can be said for a good many co's atm.
2517

required field - 22 May 2010 10:23 - 196 of 369

Everything is down right across the board for me except the falkland ones....will we ever have a sustained recovery on stocks ?....got to be coming sooner or later...

skinny - 24 May 2010 07:27 - 197 of 369

Costain wins ECI contract for Lancashire Council

TIDMCOST

RNS Number : 3854M
Costain Group PLC
24 May 2010

?
COSTAIN GROUP PLC
("Costain")

Costain wins ECI contract for Lancashire County Council

Costain announces that it has been awarded an Early Contractor Involvement (ECI)
contract by Lancashire County Council (LCC) to develop and construct a major
road decongestion and regeneration scheme.

The scheme will link the A589 Morecambe Road near Torrisholme to a fully
remodelled junction 34 on the M6 motorway near Halton. The total cost of the
scheme is GBP139m.

The contract includes supporting LCC in taking the scheme through the statutory
process, including a Public Inquiry, together with developing the design and
construction of the scheme.

The route is a 4.8km long two-lane dual carriageway. Around 20 major structures
will need to be built including bridges over the West Coast Mainline railway,
Lancaster Canal and the River Lune.

Commenting on the contract award, Andrew Wyllie, Chief Executive of Costain,
said:

"We are delighted to have been awarded this ECI contract which further
underlines our position as a market leader in the construction and maintenance
of highways in the UK."

optomistic - 24 May 2010 17:49 - 198 of 369

" Around 20 major structures will need to be built including bridges over the West Coast Mainline railway,
Lancaster Canal and the River Lune. "

These structures can run away with cash...hope 139 mill will be enough to leave a good profit.

skinny - 09 Aug 2010 10:40 - 199 of 369

Costain wins Bond Street tube station contract

TIDMCOST TIDM40CT

RNS Number : 7422Q
Costain Group PLC
09 August 2010

?
Costain Group PLC
("Costain")

Costain awarded Bond Street tube station upgrade contract

Costain announces that it has been awarded, in joint venture with Laing
O'Rourke, a GBP130 million construction contract to redevelop the London
Underground's Bond Street tube station in central London. The total cost of
redeveloping Bond Street tube station is in the region of GBP300 million.

The contract was awarded by Transport for London (TfL) and is part of London
Underground's Tube Upgrade Programme. The expanded tube station will join with
the new Crossrail station at Bond Street to form one overall station.

More than 155,000 passengers currently use Bond Street tube station every day, a
figure that is expected to rise to over 225,000 with the arrival of Crossrail in
2017.

The work will focus on the north side of London's retail hub Oxford Street to
boost capacity and create step free access to the station. Work is due to begin
in the autumn.

Andrew Wyllie, the Chief Executive of Costain, said:

"We are delighted to have been awarded this contract in the heart of central
London, which further builds on our two recent contracts with Crossrail and
again demonstrates our skills and capabilities in this area."

9 August 2010

HARRYCAT - 09 Aug 2010 10:43 - 200 of 369

A pretty grim chart. Reasonable divi yield at 4.7%.

skinny - 25 Aug 2010 08:02 - 201 of 369

Interim Results.

HARRYCAT - 25 Aug 2010 09:29 - 202 of 369

.

skinny - 25 Aug 2010 09:31 - 203 of 369

Harry - I'm still undecided on these. I will probably buy if they hit the mid 190s.

HARRYCAT - 25 Aug 2010 09:39 - 204 of 369

Me also. Last time at this price was 2002, but has been even lower. Am watching but not confident of a recovery yet.

2517GEORGE - 25 Aug 2010 09:54 - 205 of 369

According to Selftrade the market cap is 122.85m, yet COST have 10m more than that in cash.
2517

skinny - 25 Aug 2010 12:22 - 206 of 369

Oh well - back to waiting!

skinny - 25 Aug 2010 16:36 - 207 of 369

Uncrossed @210 +7.1% hmmm

pjstanton - 25 Aug 2010 16:51 - 208 of 369

More to come?

Don't forget today was a BAD day.

As the results sink in I would expect further buying

HARRYCAT - 25 Aug 2010 21:26 - 209 of 369

The results were reasonable under the circumstances, but not exceptional. The pension fund deficit: "The deficit in the Group's legacy defined benefit pension scheme as at 30 June 2010 was 56.3 million net of deferred tax" is crippling.
Traders will play this for a while, imo, then back to reality.

Joe Say - 26 Aug 2010 07:22 - 210 of 369

you should look at the overall position on the pension deficit - a substantial improvement over the period.

guess you're either a journalist or an MP

pjstanton - 27 Aug 2010 09:11 - 211 of 369

Got this via my "Digital Look" email yesterday
From the "Times" on 26th

IMV will reach 250p vey soon and after the November spending review ??? Who knows.

Costain maintains about a third of this countrys motorway network. Those who have spent any time in the slow lane wending their way through roadworks may find its ambition to build nuclear power stations alarming. But this is unfair; the contractor is one of those bidding for the next generation of stations, and it is exactly the sort of added-value design and engineering work that Andrew Wyllie, the chief executive, has been repositioning the business towards since he arrived from Taylor Woodrow four years ago. Progress will be slow, but one to tuck away to see if those ambitions can be realised, according to the Times.

skinny - 08 Nov 2010 07:41 - 212 of 369

Interim Management Statement.

Overview

On 25 August, the Group reported a strong performance for the first half of 2010 and that it had entered the second half of the year with a good order book, robust finances and a net cash balance in excess of 100 million.

Since then, the Group has delivered a strong operational and financial performance in line with the Board's expectations.

Costain continues to benefit from its 'Choosing Costain' strategy of focussing on targeted blue chip customers in chosen sectors whose major spending plans are underpinned by strategic national needs, regulatory commitments or essential maintenance requirements.

The Group has a proven scale and capability to deliver successfully complex solutions in markets with significant potential including power, waste, rail and nuclear and will continue to broaden its capability in providing a range of lifecycle solutions to its customers.

skinny - 08 Nov 2010 12:22 - 213 of 369

skinny - 04 Jan 2011 10:35 - 214 of 369

RNS Number : 8086Y

Costain Group PLC

04 January 2011

COSTAIN GROUP PLC

("Costain" or "the Group")

Costain wins GBP59m Port Talbot highways contract

Costain has been awarded a GBP59m contract by Neath Port Talbot County Borough Council for the Port Talbot PDR project to construct 4.5 km of dual carriageway access road from the M4 Junction 38 into Port Talbot and the Docks as well as completing the link to Junction 42 on the M4 and West Wales.

The scheme includes the construction of a bridge over the Swansea to London railway, railway realignment and signalling works and a new main entrance into Port Talbot Tata Steelworks.

Commenting on the contract award, Andrew Wyllie, Chief Executive of Costain, said:

"We are delighted to have been awarded this contract for Port Talbot which again underlines our position as a market leader in the construction and maintenance of highways in the UK."

4 January 2011

skinny - 06 Jan 2011 07:48 - 215 of 369

Pre Close Trading Update

Costain, which expects to announce preliminary results for the year ended 31 December 2010 on Wednesday 9 March 2011, is issuing a trading update ahead of entering its Close Period.

Trading update

Since the announcement of the Group's Interim Management Statement on 8 November 2010, Costain has continued to perform well and consequently finished the year in line with the Board's expectations.

The Group's operations have continued to benefit from its 'Choosing Costain' strategy of focussing on targeted blue chip customers in chosen sectors whose major spending plans are underpinned by strategic national needs, regulatory commitments or essential maintenance requirements. Costain has a proven scale and capability to deliver successfully complex solutions in markets with significant potential, including power waste, rail and nuclear and will continue to broaden its capability in providing a range of lifecycle solutions to its customers and, as a result, has entered 2011 with a strong order book and pipeline of opportunities.

As at 31 December 2010, the Group's Forward Order Book was GBP2.4 billion (2009: GBP2.6 billion), and included circa GBP800 million of work secured for 2011.

The order book has benefited from a number of major contract awards during the year, including:

- Bond Street station upgrade, in joint venture, for London Underground;

- 5-year MAC 14 highways maintenance contract

- Highways Agency Managed Motorway framework

- A 10-year nuclear framework contract for Magnox South

- Cable tunnel infrastructure for National Grid

- Welsh Water AMP 5 contract

- Lewisham BSF contract for the construction of four schools; and

- Highways contract for Neath Port Talbot County Borough Council

In addition, the Group is currently preferred bidder on contracts with an aggregate value of more than GBP400 million and the level of tendering activity for the Group's target customers remains very high.

Costain maintained its strong cash position in excess of GBP100 million and no significant borrowings.

The further improvement of the Group's future cash flows as a result of the PFI transfer to significantly reduce the pension deficit, announced with the Interim Management Statement in November 2010, will also strengthen the Group's financial position going forward.

Revised Approach to Mouchel Group plc

The Group has announced separately today that it has approached the Board of Mouchel Group plc with a significantly enhanced proposed all share offer for the entire issued and to be issued share capital of Mouchel.

The Board of Costain continues to believe that there is a compelling strategic rationale for combining Mouchel and Costain, with the significant benefits that such a combination would provide for both sets of shareholders.

Accordingly, the Board of Costain looks forward to discussing this significantly enhanced proposal with the board of Mouchel as soon as possible.

skinny - 06 Jan 2011 07:49 - 216 of 369

Costain returns with enhanced proposal for Mouchel

skinny - 17 Jan 2011 14:33 - 217 of 369

Costain to build new bridge across the Thames
RNS Number : 5397Z

Costain Group PLC

17 January 2011

COSTAIN GROUP PLC

("Costain")

Costain to build new bridge across the River Thames

Costain is pleased to announce that it has received the go-ahead from Surrey County Council to construct the new Walton bridge as part of a GBP32.3 million scheme, creating the first major road crossing over the River Thames in almost 20 years.

The crossing, between Walton and Shepperton, is due to be completed by 2013 and will replace two temporary bridges in the area. The bridge will provide improved access to several schools, major employers and shopping centres.

Around 34,000 vehicles use the current road bridge on week days.

The government has agreed to contribute just under GBP23.9 million to the project with the council providing a further GBP8.5 million, which has already been budgeted for.

Andrew Wyllie, Chief Executive of Costain, said:

"We are delighted to be awarded this contract by Surrey County Council, which is the first road crossing over the River Thames to be built in 20 years."

required field - 18 Jan 2011 10:14 - 218 of 369

One of the most undervalued stocks in the ftse index.....143 million market cap with more than 100 million pounds in the coffers....no debt or little....more than 2 billion pounds of orders....pays a dividend.....I know there is the pension to sort out...but still the same ...should be over 300p in value....bidding for Mouchel but a bid target itself...?....just has to be coming....!....

skinny - 18 Jan 2011 10:27 - 219 of 369

Costain to build new bridge across the River Thames

Costain is pleased to announce that it has received the go-ahead from Surrey County Council to construct the new Walton bridge as part of a 32.3 million scheme, creating the first major road crossing over the River Thames in almost 20 years.

The crossing, between Walton and Shepperton, is due to be completed by 2013 and will replace two temporary bridges in the area. The bridge will provide improved access to several schools, major employers and shopping centres.

Around 34,000 vehicles use the current road bridge on week days.

The government has agreed to contribute just under 23.9 million to the project with the council providing a further 8.5 million, which has already been budgeted for.

Andrew Wyllie, Chief Executive of Costain, said:

"We are delighted to be awarded this contract by Surrey County Council, which is the first road crossing over the River Thames to be built in 20 years."

hilary - 18 Jan 2011 10:31 - 220 of 369

That new bridge will be good. Thames Court in Shepperton is one of my favourite summertime pubs.

skinny - 18 Jan 2011 10:42 - 221 of 369

Hils - and a fine selection of real ales to boot!

hilary - 18 Jan 2011 10:56 - 222 of 369

Not really into real ale I'm afraid, Skinners. I'm more a Chablis kind of girl who can knock back VRBs when the need arises.

It's right on the river, so it's good fun to sit outside and just watch the world go by over lunch on a warm summer's day.

skinny - 21 Jan 2011 07:28 - 223 of 369

Statement regarding revised share and cash proposal to Mouchel Group plc ("Mouchel")

The Revised Proposal comprises 0.5531 new Costain ordinary shares and 30.0p in cash for each Mouchel share which, based on Costain's share price of 222.75p as at the close of business on 20 January 2011 (being the last business day prior to the date of this announcement), in aggregate values each Mouchel share at approximately 153.2p. A mix and match facility would also be provided

The Revised Proposal represents a premium of approximately 171 per cent. to the closing Mouchel share price of 56.5p per share on 3 December 2010 (being the last business day prior to Mouchel entering into its current offer period)

required field - 21 Jan 2011 08:26 - 224 of 369

Costain is a future star......sp just has to go through the 300p barrier and way up....

skinny - 21 Jan 2011 10:30 - 225 of 369

RNS Number : 8791Z

Mouchel Group plc

21 January 2011

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION Mouchel Group plc ("Mouchel" or "the Company")

21 January 2011

Statement in response to announcement by Costain Group plc The Board of Mouchel notes the announcement this morning by Costain Group plc of its revised proposal to make a recommended offer for Mouchel. On 6 December 2010, we announced that the refinancing of our banking facilities was proceeding to plan and that we expected to agree new medium term facilities by the time of our Half Year Results announcement in March 2011.

We have made significant progress since then and we expect to finalise the new facilities shortly. The Group's key relationship banks, Barclays Lloyds Banking Group and RBS, remain supportive. We also announced, on 6 December 2010, that we had received approaches which would, if made, result in an offer being made for the Company for the purposes of the City Code on Takeovers and Mergers. Since then, we have received further approaches. We are actively reviewing these and other options. Our priority remains to enhance shareholder value, and the Board strongly advises shareholders to take no action. A further announcement will be made as appropriate. END

skinny - 04 Feb 2011 07:47 - 226 of 369

Costain Awarded Airports contracts.

Costain is pleased to announce it has been awarded two airport contracts. The first is an 18.6 million contract, as principal contractor, to refurbish Manchester Airport's main runway, Runway 1, under an existing Framework agreement.

The Runway 1 Project will continue through to September 2011 and the Airport will remain operational 24 hours a day during the runway closures period by utilising the 2nd runway.

Costain has also been appointed by BAA as one of the suppliers for the Local Project Integrator (LPI) at London Heathrow, the world's busiest international airport. The contract, which is anticipated to have a value of approximately 8 million per annum, will run for up to four years and will commence in March 2011. This award builds on the success of similar contracts at Gatwick and Manchester Airports and the early completion of a 25 million interchange for Gatwick.

required field - 04 Feb 2011 09:15 - 227 of 369

double post...sorry.

required field - 04 Feb 2011 09:17 - 228 of 369

Undervalued by a mile is Costain.....ridiculous sp.....but I suppose that they have to complete the Mouchel takeover before the share price perks up.....

goldfinger - 04 Mar 2011 08:02 - 229 of 369

DEALTALK-UK's Costain likely target of Turkey's Renaissance
03 Mar 2011 - 16:42

(For more Reuters DealTalks, click [DEALTALK/]

* Renaissance revealed early talks with a British builder

* Analysts highlight Costain, with 150 mln stg market cap

* Renaissance eyeing growth in Middle East and Russia

* Interserve overtook Costain in race to buy Mouchel

By Lorraine Turner and Evrim Ergin

LONDON/ISTANBUL, March 3 (Reuters) - Britain's Costain Group Plc is the likely target of Renaissance Construction, as the Turkish building group seeks a partner with deep roots in high-potential markets.

Board chairman Erman Ilicak said last month that Renaissance, one of Turkey's three largest construction groups, was in early-stage talks to take a controlling stake in an unnamed, 140-year-old British company.

Ilicak told reporters the potential target specialised in building nuclear plants, railways and water networks and had annual revenue of 1.5 billion euros. [ID:nLDE7191H2]

The detailed description, analysts say, points squarely at Costain: "It's difficult to come up with too many more suggestions (other than Costain)," said Panmure Gordon analyst Andy Brown.

Costain's bid to buy Mouchel failed recently, after the struggling support services firm struck an alternative deal with Interserve Plc . [ID:nLDE71O0TY]

Brown said the "bid shadow" of Renaissance could also explain Costain's reluctance to go hostile in its pursuit of Mouchel.

One wrinkle, however, is a gap in valuation: Costain's market value is about 150 million pounds ($245 million), compared with a 300 million euro ($417 million) value cited by Ilicak.

Even adding a typical takeover premium of about 30 to 40 percent, Costain's equity value would be some way below that. In "enterprise value" terms, the gap is even bigger, since as of November Costain had more than 100 million pounds in cash.

"Everything points to Costain except the valuation," said Robin Hardy, an analyst at Peel Hunt, saying it would be a "fairly punchy" deal.

But he added: "You never know what view somebody takes from what they think they can add, by combining their business with an existing business, or what they think they might be able to leverage out of it."

If Renaissance succeeds, it would be one of the biggest takeovers in Western Europe ever by a Turkish firm, according to Thomson Reuters data. Turkish buyers have only struck seven takeovers in Western Europe worth more than $100 million, the data show.

Costain declined to comment, as did its two major shareholders, Kuwait's Al Kharafi and UEM Builders, a unit of Malalysia's UEM Group, which each have stakes of about 22 percent.

goldfinger - 04 Mar 2011 08:41 - 230 of 369

Moving up nicely.

required field - 04 Mar 2011 10:00 - 231 of 369

If there is a takeover of Costain, anything less than 400p would be a dirt cheap valuation to any company.

goldfinger - 04 Mar 2011 15:43 - 232 of 369

Latest from Reuters

http://uk.reuters.com/article/2011/03/04/markets-uk-stocksnews-idUKLDE6950JA20110304

Looks like its on chaps.

HARRYCAT - 04 Mar 2011 19:59 - 233 of 369

required field - 05 Mar 2011 08:43 - 234 of 369

Should be a monday surge even without a rumoured takeover bid....been undervalued for years this great little company and the graph all points to a 300p rise at least....

skinny - 09 Mar 2011 11:10 - 235 of 369

Final Results.

Engineering and construction group Costain reported a strong performance in the year to end-December 2010, with a significant increase in profit before tax.

The group also reported an enhanced cash balance, a robust order book and an increased dividend for the year.

Profit from operations increased by 41% to 29.4m (2009: 20.8m).

Profit before tax increased by 54% to 27.9m (2009: 18.1m).

The group reported a strong net cash position at 144.3m (2009: 120.5m), with an average month-end cash balance of 116m during the year (2009: 125.3m).

Revenue was at 1.022bn, up from 1.061bn in 2009.

A year-end order book of 2.4bn maintains long-term earnings visibility (2009: 2.6bn).

Costain said repeat order customers account for in excess of 80% of order book and it includes c. 800m of secured work for 2011.

In addition, preferred bidder positions at year-end were maintained at over 400m.

Banking and bonding facilities were increased in early 2010 by 20% to 345m and extended to September 2013.

The IAS 19 pension scheme deficit reduced to 28.9m at year-end, net of deferred tax (2009: 75.4m).

The group recommended a final dividend of 6.25p, increasing total payout for the year by 12% to 9.25p (2009: 8.25p).

David Allvey, Chairman, commented: "We have delivered another excellent performance. Once again, the Group has demonstrated its resilience in a continuing difficult economic environment. We are confident that our position in markets underpinned by strategic capital expenditure, regulatory commitment or essential maintenance requirements will continue to stand us in good stead.

"Through our 'Choosing Costain' strategy, we are making good progress in achieving our vision of building Costain into one of the UK's top solutions providers, with the scale and resources to successfully meet the increasingly complex and challenging needs of major customers.

"To expedite the delivery of our strategy, we said that we would look at appropriate acquisition opportunities, an example of which is Mouchel Group plc, as well as organic growth. We are actively progressing a number of opportunities ranging from bolt-on to transformational transactions, and all of which must meet a strict set of criteria in the event that they were to be concluded.

"We look to the future with confidence, reinforced by our robust year-end order book, enhanced cash balance and the ongoing support of our customers committed to long-term capital investment programmes. That confidence is reflected in the Board's recommendation to increase the total dividend for the year."

skinny - 13 Jun 2011 07:29 - 236 of 369

RNS Number : 2785I

Costain Group PLC

13 June 2011

COSTAIN GROUP PLC

("Costain" or "the Group")

Costain awarded A465 Head of the Valleys contract with Welsh Government

Costain, one of the UK's leading construction and engineering solutions providers, is pleased to announce that it has been awarded a contract worth GBP150m by the Welsh Government to construct the A465 Heads of the Valleys road in South Wales.

Costain, in partnership with Atkins, Halcrow and RPS Group, will design and construct an 8km section between Brynmawr and Gilwern. The project will present significant engineering and environmental challenges as the road passes through a number of sites of special scientific interest including the Clydach Gorge within the Brecon Beacons National Park.

Commenting on the contract award, Andrew Wyllie, Chief Executive of Costain, said:

"We are delighted to have been awarded this contract and are committed to deliver a high quality, safe and cost effective scheme for the Welsh Government and the local community. This award demonstrates the strength of our position as one of the UK's leading solution providers in the Highways sector."

skinny - 30 Jun 2011 09:08 - 237 of 369

Pre-Close Trading Update

30 June 2011

Since the announcement of the Groups Interim Management Statement on 5 May 2011, Costain has continued to perform well and is trading in line with the Boards expectations.

Against a backdrop of well-publicised uncertain market conditions, the Group has continued to implement its strategy successfully and has secured contracts from its blue chip customers in chosen sectors whose major spending plans are underpinned by strategic national needs, regulatory commitments or essential maintenance requirements.

Consequently, the Groups order book currently stands at 2.3 billion, with additional preferred bidder positions of over 400 million. As at the end of the first half, over 900 million of revenue has been secured for 2011.

The level of tendering activity in the Groups targeted markets of Infrastructure, Environment and Energy & Process remains high.

Costain has maintained its strong cash position in excess of 100 million, and has no significant borrowings. In addition, in order to support the delivery of its strategy, the Group has recently increased its total banking and contract bonding facilities by 90 million to 435 million.

The Group announced in April 2011 the acquisition of ClerkMaxwell Limited, an Aberdeen-based front-end engineering and operations support services provider operating in the upstream oil & gas sector. The integration of ClerkMaxwell into the Group is proceeding smoothly and the business is trading well.

Costain will announce interim results for the six months ended 30 June 2011 on Thursday 25 August 2011. There will be a presentation to analysts at 9.30am on that date at the offices of College Hill: The Registry, Royal Mint Court, London, EC3.

optomistic - 30 Jun 2011 09:14 - 238 of 369

Looks a good contract:

Costain Awarded Reading Station Contract

30 June 2011

Costain, one of the UK's leading construction and engineering solutions providers, is pleased to announce that, in joint venture with Hochtief, the Company has been awarded a contract to redevelop Reading Station.

The contract, which is worth approximately 80m, is one of the largest that will be awarded as part of Network Rail's 850m project to transform Reading's railway system. It will see five new platforms constructed at Reading, as well as a new footbridge linking platforms to new entrance buildings on the north and south side of the station. This will relieve congestion on the Great Western Main Line and will mean that passengers no longer have to wait outside the station for a platform to become available.

Andrew Wyllie, Chief Executive of Costain, commented:

We are delighted to have been awarded this contract which demonstrates our broad range of capabilities in the rail sector. We look forward to working with Network Rail to deliver the major redevelopment of Reading Station, which will significantly enhance the railway system.

skinny - 26 Jul 2011 07:32 - 239 of 369

RNS Number : 0576L

Costain Group PLC

26 July 2011

Costain Group PLC

("Costain" or "the Group")

Costain-Skanska Joint Venture awarded fourth Crossrail contract

Costain (COST.LN), one of the UK's leading engineering solutions providers, is pleased to announce that it has been awarded, in Joint Venture with Skanska, the contract to construct the Crossrail Paddington Station.

The project, which is worth approximately GBP150m, is the first station contract to be awarded as part of the GBP14.8bn Crossrail programme to create a new railway link between Maidenhead to the west of London and Abbey Wood and Shenfield to the East. Crossrail will boost London's rail-based capacity by 10 per cent, delivering new journey opportunities, faster journey times and up to 24 trains per hour between Paddington and Whitechapel during the peak.

The Crossrail Paddington Station is one of seven new underground stations to be constructed. It will be a key interchange with the existing Network Rail services at the Paddington Mainline station and with London Underground. The new Crossrail station in Paddington has been designed to maximise the station's space while preserving the historic features of the main line station. The new station will take the form of a 260m long, 25m wide and 23m deep underground box located directly under Departures Road and Eastbourne Terrace. Paddington will be just 9 minutes to Liverpool Street, 16 minutes to Canary Wharf and 27 minutes to Abbey Wood.

Construction will commence this year.

Andrew Wyllie, Chief Executive of Costain, commented:

"We are delighted to have secured our fourth Crossrail contract, reflecting our ability to consistently deliver valuable solutions in the rail sector utilising our broad range of capabilities and depth of expertise. We look forward to working with Crossrail to deliver this landmark station and to playing our part in enhancing London's transport infrastructure."

skinny - 22 Aug 2011 07:13 - 240 of 369

RNS Number : 7606M

Costain Group PLC

22 August 2011

Costain Group PLC

("Costain" or the "Group" or the "Company")

Acquisition of Promanex Group Holdings Limited ("Promanex")

Costain, one of the UK's leading engineering solutions providers, is pleased to announce that it has acquired 100 per cent of the issued share capital of Promanex, an industrial support services business providing facilities management, installation, repair and maintenance and general asset management in a number of high growth, specialist markets such as Power, Petrochemicals and Nuclear.

The consideration for the acquisition, together with management retention payments, is GBP16.4 million. In addition, the business is being acquired with normalised net debt of GBP2.4 million. The acquisition is being funded from the Group's existing cash resources.

Based in Warwickshire, Promanex operates across the UK and in Ireland with a workforce of over 800 highly skilled maintenance employees. The company's client base consists largely of such major blue chip customers as Conoco Phillips, EDF, E.ON, Magnox, RWE, Scottish and Southern Energy, Siemens and Total.

The business provides a range of services in the management, operation, maintenance and repair of customers' sites and plant assets, including hard and soft facilities management, water services, such as water treatment and hygiene, civil and industrial services, such as civil engineering, specialist industrial cleaning and outage support, and mechanical & electrical services such as power station materials handling, bi-product systems and emission treatment systems. Approximately 75 per cent of Promanex's revenues are generated from long term contracts and the business has a robust order book and strong pipeline of opportunities.

For the year ended 30 September 2010, Promanex reported revenue of GBP56.2 million, EBITDA of GBP2.4 million and operating profit of GBP1.8m. Gross assets as at 30 September 2010 were GBP20.8 million. The acquisition is expected to be earnings enhancing (before amortisation and exceptional costs) in the year ending 31 December 2011 and thereafter.

Promanex will be integrated into Costain's Infrastructure division and the existing management team will remain with the business to ensure a successful integration and continued growth in the business. The acquisition represents a further important step in implementing the 'Choosing Costain' strategy. It broadens the Group's capabilities in ongoing care and maintenance and strengthens the Group's presence in key growth target markets, particularly in Power, Nuclear Process, Hydrocarbons & Chemicals and Water, where significant investment is required in order to meet national needs. The combination of Costain's existing consulting, project delivery and maintenance capability, together with Promanex's operations and maintenance services, significantly enhances the Group's ability to offer full lifecycle services to customers in these target markets.

Commenting on the acquisition, Andrew Wyllie, Chief Executive of Costain, said:

"We are delighted to have completed the acquisition of Promanex, which represents a further important step in the implementation of our strategy of broadening our existing front-end consultancy and care and maintenance operations in order to meet customers' requirements. The acquisition will significantly enhance our existing ability to provide operations and maintenance support services to our major customers and reinforces Costain's position as a leading Tier One engineering solutions provider."

Mark R Dixon, Managing Director of Promanex, said:

"We are delighted to be joining Costain. Costain rightly has an outstanding reputation for applying technological expertise and innovation to add value to customers. Allied with Promanex's proven capabilities and market leading position in our core sectors, we will make a formidable team. Costain has an exciting future and we are very much looking forward to being a part of it."

skinny - 25 Aug 2011 07:37 - 241 of 369

RNS Number : 9953M

Costain Group PLC

25 August 2011

Costain Group PLC

("Costain" or the "Group")

Interim results for the half-year ended 30 June 2011

Costain, one of the UK's leading engineering solutions providers, announces another strong performance with profit before tax up 23%, reflecting the ongoing transformation of the business through the implementation of its 'Choosing Costain' strategy.

H1 2011 H1 2010 FY 2010
Revenue* GBP468.5m GBP533.4m GBP1,022.5m
Profit from operations GBP9.3m GBP8.8m GBP29.4m**
Profit before tax GBP10.1m GBP8.2m GBP27.9m**
Net cash GBP149.2m GBP133.9m GBP144.3m
Basic earnings per share 11.9p 10.0p 36.4p
Dividend per share 3.25p 3.00p 9.25p

* Including share of joint ventures & associates

** Including profit arising from PFI transfer / sales

-- Revenue of GBP468.5m (June 2010: GBP533.4m) following strategic decision to withdraw from lower margin activities

-- Profit from operations increased by 6% to GBP9.3 million (June 2010: GBP8.8 million)

-- Profit before tax up 23% to GBP10.1 million (June 2010: GBP8.2 million)

-- Basic earnings per share up 19% to 11.9p (June 2010: 10.0p)

-- Interim dividend increased by 8% to 3.25p (June 2010: 3.00p)

-- Enhanced net cash position of GBP149.2 million (June 2010: GBP133.9 million)

- average month-end cash balance of GBP132.8 million during first six months of the year (June 2010: GBP114.1 million)

-- Further major new contracts secured in the period, resulting in strong order book of GBP2.3 billion (June 2010: GBP2.5 billion)

- providing good long-term earnings visibility

- repeat order customers account for in excess of 80% of order book

- over GBP900 million of revenue secured for 2011 at half-year

- in addition, preferred bidder positions of over GBP400 million

-- Successfully implementing the 'Choosing Costain' strategy to broaden further Costain's Tier One capability across engineering consultancy, construction, and operations & maintenance in order to meet the changing service and procurement requirements of our major customers

-- Acquisition of ClerkMaxwell, an upstream oil and gas consultancy, in April 2011, with the integration proceeding smoothly

-- Completed this week the acquisition of Promanex, a business specialising in operations & maintenance in the energy, water and industrial sectors

-- Following the acquisitions and organic growth, c. 25% of Group revenues from now arise from consultancy and operations and maintenance activities

-- To support the future delivery of strategic objectives, total banking and bonding facilities recently increased by GBP90 million to GBP435 million

Commenting on the results, the Chairman, David Allvey, said:

"We are delighted with another strong set of results, with a significant increase in profit before tax, an enhanced cash balance, and a robust order book including further new contract awards from our major customers.

"The implementation of our 'Choosing Costain' strategy is transforming the Group, as we continue to develop or acquire the skills and capabilities to reinforce our position as one of the UK's leading Tier One engineering solutions providers.

"Looking ahead, despite continuing challenging market conditions, we see significant opportunity for the continued successful implementation of our strategy and the delivery of the Board's ambition of doubling profit over the medium term. The Board expects to report continued progress at the year-end in line with its expectations."

overthewall - 31 Aug 2011 09:42 - 242 of 369

COULD BE BAD NEWS AHEAD !!!!!

Found out from a broadsheet journalistic source that things may not be as they seem.
Seems that Costain have been embroiled in a Public Interest Immunity battle ( now granted ) regarding financial indescretions - this follows on from a court battle where one of their divisional managing directors was 'retired' through ill health after being heavily criticised, integrity wise, by a panel of top judges that included Lord Rix.
Source says that a legal challenge is being formulated to try and reverse the granting of the PII. Therefore trouble is not over yet.
Does beg the question what is so important as to have information hushed up ? What have they been up to and why are senior officers being retired and criticised by top judges?

optomistic - 31 Aug 2011 09:56 - 243 of 369

overthewall.
Costain up 3.86% this morning. Can we have a link to your comment please?

skinny - 31 Aug 2011 10:30 - 244 of 369

Yes- please post a link to the article. Both these and Carillion were tipped last week - I know, so what. The sector as a whole doing well today. COST is up 4.5% on 10.5k traded - some conviction would be nice.

skinny - 31 Aug 2011 16:31 - 245 of 369

overthewall - 01 Sep 2011 10:02 - 246 of 369

FAO Optomist and Skinny,

Sorry there is no article at present, the broadsheet journalist mentioned will break his article once the forthcoming challenge to the Public Interest Immunity Cert. is complete. he will break it in two parts i.e. Main background and pre challenge then post challenge.
There are, however, many documents that are in the public domain and case number 201001652 C2 is a judgement handed down 25/01/11 by Lord Justice Rix, Mr Justice Hedley and Mr Justice Treacy and is freely available from the High Court of Justice, Court of Appeal. This document clearly criticises the Costain MD involved and it gives a good background to what has gone on, however, it does not give the full details as it upholds the application for the PII Cert. This was the document that first attracted the interest from the journalist. I have the document but cannot scan it our download it due to a knackered scanner . Hope this carries enough conviction.

skinny - 01 Sep 2011 10:06 - 247 of 369

You can sign up for it here.

overthewall - 01 Sep 2011 17:53 - 248 of 369

Have you read the judgement yet ? They obviously stitched the guy up, however, what worries me is that if their honorable justices deemed what is quite damaging info acceptable for public consumption how bad is the info that is hidden by the PII ? The source tells me that according to 'official' sources ( and by that I think he means police ) the info is so explosive that it would sink them fairly quickly.
The other party involved is taking action to have the PII Cert revoked and have a civil judgement set aside.

inrtigued - 02 Sep 2011 18:33 - 249 of 369

As a Costain shareholder I am concerned with the previous posts. From what I can gather there has been some serious malpractice going on. In order that a Crown Court case could collapse in such a way, to my mind, indicates that crucial evidence was withheld from CPS and it is obvious that this evidence was of an extremely important nature. The Crown obviously hold Costain responsible for this. I think that the truth should be forthcoming to all investors so that they can make the informed decision that they are entitled to make.

This leads to all sorts of legal questions, including possibly perjury or perverting the course of justice.

overthewall - 02 Sep 2011 20:58 - 250 of 369

F.A.O Intrigued. I don't know if an investigation is underway by any of the authorities and I don't know if any charges will be forthcoming. Maybe that was the reason for the PII Cert. i.e. to keep the integrity of the investigation. That's part of the problem - we just don't know.

skinny - 21 Sep 2011 16:07 - 251 of 369

Hmmm up on a general down day and ex dividend to boot!

overthewall - 27 Sep 2011 10:14 - 252 of 369

Point taken skinny, however, the existence of the PII Cert. has been kept underwraps quite well - it is not really in the public domain and therefore has had no impact on sp.
Latest news is that the police are now investigating the conduct of one of their officers on matters relating to the PII Cert. How long that can be kept from widespread knowledge, I just don't know.

skinny - 27 Oct 2011 07:12 - 253 of 369

RNS Number : 9113Q

Costain Group PLC

27 October 2011

COSTAIN GROUP PLC

("Costain")

2011 Interim Dividend - Scrip Alternative

Costain announces that, following approval by shareholders at the Company's 2008 AGM of the scrip dividend scheme, elections have been made by shareholders to receive 43,377 ordinary shares of 50p each in the Company ("Shares") in lieu of cash in respect of all or part of their interim dividend for the year ended 31 December 2011 ("Interim Dividend"), which is to be paid on 28 October 2011.

The Scrip Dividend Reference Price for the fully paid shares in the Company to be issued to shareholders who elected to receive the scrip dividend alternative for the Interim Dividend is 222.95 pence per ordinary share of 50 pence each.

The Scrip Reference Price was calculated in the usual way as the average of the middle market quotations for the Company's ordinary shares as derived from the Daily Official List of the London Stock Exchange for the five business days commencing on 21 September 2011.

Application has therefore been made for the admission ("Admission") of 43,377 new Shares to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities. The new Shares will rank pari passu with the Company's existing issued Shares and dealings are expected to commence on Friday 28 October 2011.

The resultant interest, upon Admission, of the Director who has elected to receive the Interim Dividend in the form of shares is set out below:

skinny - 01 Nov 2011 10:33 - 254 of 369

RNS Number : 2281R

Costain Group PLC

01 November 2011

Costain Group PLC

("Costain")

Costain Awarded Network Rail GBP400m London Bridge Station Contract

Costain, one of the UK's leading engineering solutions providers, announces that it has been awarded by Network Rail a major contract for the redevelopment of London Bridge Station.

Under the terms of the contract, which is worth c. GBP400m over five years, Costain will carry out the detailed design and delivery of the project. It will involve the provision of a new concourse at street level, with entrances on Tooley Street and St Thomas Street, which will increase passenger capacity through the station from c. 50m to c. 75m. Entrance and exit points will also be redeveloped to improve ease of access to and from the station.

The redevelopment of London Bridge Station is a key part of the Thameslink programme, which aims to increase significantly the total frequency of trains through the station per hour. Work is due to commence in full in 2013 and is scheduled for completion in 2018. Costain will ensure that the station remains fully operational at all times to minimise disruption to passengers.

Andrew Wyllie, Chief Executive of Costain, commented:

"We are looking forward to commencing work on this very important project, which reinforces our position as one of the UK's leading engineering solutions providers. Our focus is to design and deliver a world class London Bridge Station which enhances the capital's infrastructure and improves the journeys of the hundreds of thousands of passengers who pass through the station every day."

required field - 01 Nov 2011 11:25 - 255 of 369

Still in....wonderful little company this.....the only bad point I think is the pension fund deficit that needs to be adressed if I'm not mistaken, but otherwise....

2517GEORGE - 01 Nov 2011 11:53 - 256 of 369

The sp has not really gone anywhere since before they consolidated, which at a guess was 2-3 years ago.
2517

skinny - 07 Nov 2011 07:07 - 257 of 369

Interim Management Statement.

Overview
Following the strong performance reported in the interim results announcement of 25 August 2011, the Group is continuing to perform well and trading is in line with the Board's expectations.

Costain continues to benefit from its 'Choosing Costain' strategy of focussing on targeted blue chip customers in chosen sectors whose major spending plans are underpinned by strategic national needs, regulatory commitments or essential maintenance requirements. The implementation of this strategy, enhancing the breadth and scale of Costain's service offering to encompass consulting and care as well as construction services, is transforming the Group into one of the UK's leading Tier One engineering solutions providers.

On 22 August 2011 Costain announced the acquisition of Promanex, an industrial support services business operating in the Power, Petrochemicals and Nuclear markets. The integration of this business is progressing well. The integration of Clerk Maxwell, the front-end engineering and operations support services provider operating in the upstream oil & gas sector and acquired earlier in the year, is complete.

skinny - 05 Jan 2012 07:13 - 258 of 369

Pre-Close Trading Update.

Costain, one of the UK's leading engineering solutions providers, will announce preliminary results for the year ended 31 December 2011 on Wednesday 7 March 2012, and is issuing a trading update ahead of entering its Close Period.

Trading update

Since the announcement of the Group's Interim Management Statement on 7 November 2011, Costain continues to perform well and consequently finished the year in line with the Board's expectations.

As a result of its strategy of focussing on major public and private sector customers whose spending plans are driven by national need, regulatory commitments or essential maintenance requirements, Costain secured significant new contracts during the year, including:

- London Bridge Station redevelopment for Network Rail;
- Crossrail Paddington Station and advanced works at Crossrail Bond Street;
- A465 Heads of the Valleys road for the Welsh Government;
- Contracts for Northumbrian Water AMP5 and Severn Trent;
- Energy Technologies Institute (ETI) development of carbon capture technology;
- Decommissioning contract at Trawsfynydd nuclear site.

The Group finished the year with an increased forward Order Book of £2.5 billion (2010: £2.4 billion), which included in excess of £650 million of work secured for 2012 and over £1.8 billion of revenue secured for 2013 and beyond.

In addition, Costain has a strong preferred bidder position at circa £400 million.

The Group made two acquisitions during the year. ClerkMaxwell, the front end engineering support services provider acquired in April, and Promanex, the industrial support services business acquired in August, both of which are performing well.

Financial position

There has been no material change in the financial position of the Group, which has a strong cash position of in excess of £100 million and no significant borrowings.

Recently, the Group has further enhanced and extended its contract bonding and banking facilities with its relationship banks and surety companies. The facilities were increased by £30 million to £465 million and extended by two years to September 2015. These facilities ensure the Group has the necessary financial resources to capitalise on market opportunities as they arise and achieve its medium term objectives.

ahoj - 28 Feb 2012 16:34 - 259 of 369

This is so sensitive to small buys.
Does it worth investing?

goldfinger - 06 Mar 2012 15:57 - 260 of 369

COSTAIN

Panmure Gordon rates the engineering company “buy” with a target price of 230p ahead of the firm’s full year results on Wednesday. Panmure expects to see pre-tax profit of £22m, slightly behind consensus forecasts, and earnings per share of 26.2p

http://bit.ly/wPmSHB

goldfinger - 06 Mar 2012 16:07 - 261 of 369

The trading outlook is also expected to be key with infrastructure company Costain.

The company released a full-year update in January, confirming that trading had continued to perform well and that it would finish the year with results in line with expectations. The company said that its strategic focus on large public and private sector clients, where spending was driven by national need, regulatory commitment and essential maintenance, continued to benefit the group.

Accordingly, its order book had increased to £2.5 billion, supported by a healthy £0.4 billion preferred bid pipeline. The company has also secured a number of contracts in the past year including rail, road, utility and energy work.

According to Brown, the stock is trading on an "attractive" valuation of a 2012 PE ratio of between seven and eight times, with a dividend yield of 5%.

"We like Costain due to its exposure to large, complicated infrastructure projects. Post its interest in Mouchel (MCHL), its strategic ambitions are back on track with the addition of specialist capability (ClerkMaxwell and Promanex)," said Brown

http://www.iii.co.uk/articles/26994/week-ahead

goldfinger - 06 Mar 2012 16:30 - 262 of 369

COST COSTAIN

Broker Forecasts Digital Look premium

Costain Group PLC

FORECASTS WIRES 2011 2012
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Panmure Gordon
05-03-12 BUY 22.00 26.20 10.20 23.00 27.10 11.00
Numis Securities Ltd
01-03-12 ADD
Peel Hunt
28-02-12 BUY 22.00 25.25 9.75 24.95 28.31 10.10
Arbuthnot Securities
06-01-12 BUY
Investec Securities
07-12-11 BUY 22.01 24.99 9.84 24.59 27.91 10.34

2011 2012
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 22.00 25.66 10.04 23.70 27.46 10.71
1 Month Change 0.00 0.11 0.06 -0.25 -0.16 0.12
3 Month Change 0.01 0.00 0.07 -0.31 -0.40 0.03

GROWTH
2010 (A) 2011 (E) 2012 (E)

Norm. EPS -26.24% 78.38% 6.99%
DPS 9.68% 18.13% 6.64%

INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)

EBITDA £18.30m £21.85m £22.90m
EBIT £15.70m £m £m
Dividend Yield 4.23% 5.00% 5.33%
Dividend Cover 1.69x 2.56x 2.56x
PER 13.97x 7.83x 7.32x
PEG -0.53f 0.10f 1.05f
Net Asset Value PS 57.63p p p

required field - 06 Mar 2012 16:53 - 263 of 369

Great little company this.....with the pension being dealt with, should go a lot, lot higher if the market picks up.....

goldfinger - 06 Mar 2012 17:28 - 264 of 369

BullBearings ‏ @Bullbearings

Ahead of the game: Costain FY results due tomorrow. Analyst Andy Brown at Panmure says 'buy' as although UK... http://fb.me/1rpOBpiGQ

skinny - 07 Mar 2012 07:08 - 265 of 369

Final Results.

Highlights

· Increase of 38% in adjusted Group operating profit2 to £24.1 million

· Year end order book increased to £2.5 billion, in excess of 90% from repeat orders (2010: £2.4 billion)

· £140 million year-end net cash balance, no significant debt

· Banking and bonding facilities increased to £465 million and extended to September 2015

· Two successful acquisitions completed in 2011, broadening the range of services provided by the Group

· Support services activities now represent 25% of work secured for 2012

· Recommended 8% increase in dividend for the year: 5th successive year of increase

· On course to achieve ambition to double profits in the medium-term

goldfinger - 07 Mar 2012 07:41 - 266 of 369

Absolutely smashes concensus forecasts
of just under £22 million operating profit
which the brokers were looking for.

goldfinger - 07 Mar 2012 08:00 - 267 of 369

Dividend raised aswel......

COST

Smashes broker concensus figures apart.

http://www.investegate.co.uk/Article.aspx?id=201203070700318497Y

goldfinger - 07 Mar 2012 08:15 - 268 of 369

SP breaking out of the triangle and
moving up.............

costain%20100.JPG

goldfinger - 07 Mar 2012 09:23 - 269 of 369

BRIEF-Costain posts higher full year operating profit
07 Mar 2012 - 07:04

LONDON, March 7 (Reuters) - Costain Group PLC :

* Auto alert - Costain Group PLC final dividend 6.75 pence per share

* Full year adjusted group operating profit 24.1 million STG

* On course to achieve goal to double profits in the medium-term

goldfinger - 07 Mar 2012 13:32 - 270 of 369

Costain orders ahead

Engineering solution provider Costain announced a 38% increase in operating profit for the year to end-December, with an increased order book.

The group said it maintained strong cash balances and increased its final dividend.

There was an increase of 38% in adjusted group operating profit to £24.1m.

Year end order book increased to £2.5bn, in excess of 90% from repeat orders (2010: £2.4bn).

There was a £140m year-end net cash balance and no significant debt.

Banking and bonding facilities were increased to £465m and extended to September 2015.

Two successful acquisitions were completed in 2011, broadening the range of services provided by the Group.

Costain said support services activities now represent 25% of work secured for 2012.

The group recommended an 8% increase in dividend for the year: 5th successive year of increase.

Costain said it was on course to achieve the ambition to double profits in the medium-term.

David Allvey, Chairman, commented: "Costain delivered another strong performance in 2011, with operating profit up substantially and an increased order book.

"The Group has been successful in targeting those blue chip customers who are spending billions of pounds per annum on essential capital projects and ongoing maintenance of essential, nationally strategic assets. This provides a major opportunity to grow the business further.

"We are transforming Costain into a broad-based Tier-One engineering solutions provider, aligned with structural market changes. Winning projects such as the complex £400 million London Bridge redevelopment is testimony to that. Meanwhile, our strong cash position, robust balance sheet and increased banking and bonding facilities provide us with the resources to grow the business by acquisition as well as organically.

"Our confidence in Costain's future, and in achieving our ambition of doubling profit over the medium-term, is reflected in the Board's recommendation to increase the final dividend for the fifth successive year."

goldfinger - 07 Mar 2012 16:01 - 271 of 369

Massive Broker upgrade just out......

Costain Group FTSE SMALLCAP Industrial Buy 315 207 52.2% Investec

Target SP 315P upside 52.5%

WOW that is one hell of an upgrade.

skinny - 07 Mar 2012 16:14 - 272 of 369

GF - don't forget BBY reporting tomorrow.

goldfinger - 08 Mar 2012 02:20 - 273 of 369

Havent Skinny. Got it sorted if they are good. Already posted a bit over the road.

skinny - 08 Mar 2012 07:06 - 274 of 369

Costain Awarded GBP60m Oil & Pipelines Agency Contract

Costain, one of the UK's leading engineering solutions providers, announces that it has been awarded a three-year asset support contract for the operation and maintenance of the Government Pipeline and Storage System.* The contract is expected to have a value over three years of approximately GBP60m, and has the potential to extend for a further two years.

The Group was awarded the contract by the Oil and Pipelines Agency (OPA), which manages the Government Pipeline and Storage System and six Royal Navy oil fuel depots on behalf of the Ministry of Defence. Under the terms of the contract Costain will be responsible for asset management and capital project delivery in addition to operations and maintenance of the entire network.

As well as bringing to bear Costain's skills and capability in engineering, construction and project management, the operations and maintenance experience of Promanex, which the Group acquired in August 2011, was instrumental in securing the contract.

Andrew Wyllie, Chief Executive of Costain, commented:

"The award of this contract by a new customer demonstrates the value that Promanex has brought to Costain in providing the full life of asset services in high growth market sectors. It also marks an important stage in the ongoing transformation of the Group as we continue to broaden our service offering, both organically and by targeted acquisitions."

"Our strategy of focussing on major customers whose spending plans are driven by national need, regulatory commitments or essential maintenance requirements continues to deliver results. We look forward to working with the OPA to ensure the safe, cost effective and efficient operation and maintenance of this strategic national asset."

*As referenced in the full year results announcement of 7 March 2012

goldfinger - 08 Mar 2012 08:16 - 275 of 369

yes excelent new contract win skinny.

devon - 09 Mar 2012 15:57 - 276 of 369

GF- re post 270

There was a £140m year-end net cash balance and no significant debt.

Is this correct? if so its more than the value of company

optomistic - 09 Mar 2012 16:39 - 277 of 369

That is correct devon, been the same situation for the last few years (not sure how many without looking it up)
Surprising we haven't been take out by now.

The Other Kevin - 10 Mar 2012 11:21 - 278 of 369

There used to be a problem with a pension fund deficit. Has that been sorted yet?

optomistic - 10 Mar 2012 11:34 - 279 of 369

TOK, they do keep making inroads into the deficit:

Costain Pension Scheme

23 February 2012

Costain, one of the UK’s leading engineering solutions providers, today announces further actions taken to manage the obligations in the legacy Costain Pension Scheme (the ‘CPS’).

The Board has agreed with the Trustee of the CPS to transfer the Group’s interest in a portfolio of two PFI investments into the CPS, at an agreed valuation of £20.3 million. This represents an effective discount rate of circa 7%. As a result of the transaction, the accounting profit realised on the transfer of the assets is £10.2 million in 2012.

Furthermore, as part of the package of measures being implemented, the Group has instigated a liability risk management exercise. The Group is in the process of issuing Enhanced Transfer Value and Pension Increase Exchange offers to the members of the CPS. These initiatives, which potentially include every member of the CPS, will offer each individual greater choice and flexibility regarding their pension entitlement, and will also reduce the overall pension liabilities and risk remaining within the scheme. The level of liability reduction will depend on the take-up of the offer by members and financial conditions at the point the entire exercise completes (expected to be May 2012). At this stage, it is estimated that the initiatives could reduce the scheme liabilities by approximately £50 million, and could incur a one-off accounting cost, estimated at £6 million, to be expensed in 2012.

Together, the above actions are estimated to reduce the pension deficit by approximately £16 million, with an associated potential reduction in annual deficit contributions, following the next triennial actuarial valuation of the CPS which is due as at 31 March 2013.

Notes:

1. The two PFI assets transferred into the CPS are:

Integrated Bradford Holdco Two Limited
Lewisham Schools For The Future Holdings 2 Limited

2. The gross asset value as at 30 June 2011 of the two PFI investments transferred was £7.5 million (31 December 2010: Nil) after the IAS 39 mark-to-market swap adjustment and £8.9 million (31 December 2010: £0.2 million) excluding this adjustment.

The profits attributable to the two PFI assets for the six months to 30 June 2011 were £0.2 million (for the twelve months to 31 December 2010: £0.1 million).

3. The IAS19 gross deficit in the CPS as at 30th June 2011 was £35.8 million.

optomistic - 12 Mar 2012 18:46 - 280 of 369

What a move today! Now if this wasn't Costain we could be rocketing to new highs....oh heck what have I said :-/
.... well at least we can't go down until the morning :-))

optomistic - 13 Mar 2012 10:03 - 281 of 369

Up again....

Chart.aspx?Provider=EODIntra&Code=COST&S

Powered by IST's
Deltastream

ahoj - 13 Mar 2012 10:14 - 282 of 369

I noted its sensitivity to small buys on 28th Feb.Mms were keeping it down. Not much furtehr after then.

optomistic - 22 Mar 2012 10:51 - 283 of 369

Good move by Costain I believe:

New Technology Specialist Joins Costain

22 March 2012

Costain Energy & Process has appointed Dr Bryony Livesey as Manager, Research and Technology, to identify and develop new commercial opportunities for the Company based on the implementation of new technology.

Bryony, who is a Chartered Engineer with a First Class Honours degree from Manchester University and a PhD from Cambridge University, will initially focus on the Power, Nuclear Process and Hydrocarbons & Chemicals sectors.

She joins Costain from Doosan Babcock where she established their Global R&D Centre for clean energy, managing a team of over 100 technical multi-discipline staff. Under her leadership the number of patents held by the Company trebled in two years.

Bryony had previously worked for AEA Technology, leading technology and innovation in senior management roles both in the UK and internationally, including Europe, Japan, US and South Africa. She was President of a joint venture between AEA Technology and Sumitomo Corporation based in Japan. In this role, she led the development of joint UK-Japan projects across a wide range of industry sectors, working with R&D organisations and academic institutions from across UK, Europe and North America.

Charles Sweeney, Managing Director of Costain’s Energy & Process division said: “We are delighted that Bryony has joined Costain’s Front End Solutions team. This is a key appointment as we continue to enhance the strength and depth of technical skills and capability within Costain.”

optomistic - 27 Mar 2012 15:40 - 284 of 369

This performance must help in the acquiring of major contracts in the future:

Costain Excels In Safety And Environment

27 March 2012

Costain’s *MAC 10 Project, M62, J9 to 11 Improvement Works has excelled in the latest results released by the Considerate Constructors Scheme (CCS).

The project was awarded a total score of 37 out of a possible 40.

With the CCS measuring a total of eight categories, the MAC 10 Project received the maximum score possible, an impressive 5 out of 5, for both the safety and the environment categories, showing that exceptional measures were taken in line with the scheme’s requirements.

The CCS monitor commented that: “Regular toolbox talks are carried out. Operatives are encouraged to make safety suggestions. The site has introduced safety innovations developed through lesson learned / operative suggestions” and that “Attention to detail regarding site safety is first class”.

The project was also awarded a score of 4.5 out 5 for each of the remaining six categories: considerate, appearance, a good neighbour, respectful, responsible and accountable. This score showed that a ‘high level beyond compliance’ was achieved.

In summary, the monitor remarked that: “The site team are running a compliant site under the Considerate Constructors Scheme in a professional manner. The site gives a good impression and the whole team fully embraces the scheme requirements”.

The MAC 10, £9.5million scheme combines three sets of improvements into one ‘rolled together’ scheme including the widening of the link roads from the M6 at junction 21A (Croft Interchange) onto the M62 eastbound carriageway at junction 10.

The Croft Interchange is one of the busiest junctions on the motorway in the North of England with the M62 at this point carrying 57,000 vehicles a day in each direction.

Gerard Ward, Site Manager at MAC 10 commented: “There is always a great sense of achievement to get a great score especially when you know the high standards expected from the CCS. The team’s response to delivering a much needed improvement scheme for the local community will be impressive and extremely welcomed by the local community. It is important that High Profile Highway Schemes are given some recognition with hopefully a modest Award to hang up alongside the Silver achieved last Year.”

Neal Symmons, Highways Agency Service Delivery Manager for this scheme stated: “Achieving a CCS score of 37 out of 40 is an excellent score and reflects the efforts of the entire project team. The linear nature of highway network projects mean our work areas are large when compared with other construction projects, this fact coupled also with our customers travelling through our works area means our constructions teams have to be extra vigilant and work very hard to achieve CCS scores of this level.”

*MAC 10 is an A-one+ Project, which is a Joint Venture Project with Colas and Halcrow.

skinny - 09 May 2012 07:16 - 285 of 369

Interim Management Statement.

Overview

Following on from its strong performance in 2011, the Group is continuing to perform well and trading is in line with the Board's expectations.

The Group is undergoing significant and ongoing transformation as a result of the successful implementation of its "Choosing Costain" strategy. That strategy is focussed on building the Group into one of the UK's top engineering solutions providers, delivering services for blue chip customers whose major spending plans are underpinned by strategic national priorities, regulatory commitments or essential maintenance requirements in chosen sectors.

A core component of this has been the broadening of the skills and capabilities across the full asset life cycle demanded by our customers. Consequently, the services we now offer to our customers, and the composition of our earnings, are being transformed as we continue to broaden the business through the implementation of our strategy. Currently 25% of our 2012 order book now comes from support services activities and this will continue to grow.

In this context, Costain in 2011 made two acquisitions both of which have been successfully integrated and are providing a broader range of opportunities for the Group. The enhanced capability provided by Promanex enabled the Group to win a £60m operations and maintenance contract from new customer the Oil & Pipelines Agency earlier this year.

optomistic - 09 May 2012 10:02 - 286 of 369

Don't overlook this skinny... less but still in excess of £100mill.

Financial Position

There has been no material change in the robust financial status of the Group, which continues to have a strong net cash position of in excess of £100 million, and has no significant borrowings.

skinny - 09 May 2012 10:21 - 287 of 369

Hi Optomistic - I think I've said before, I find these a very frustrating share to own/trade - but then that's true of a few in the sector.

A recent dividend increase and steady news flow, but it seems to be attached to £2 by elastic.

optomistic - 09 May 2012 10:26 - 288 of 369

Skinny, it will be interesting to see what enthusiastic comments the CEO makes at the AGM later....as you say we seem to be attached to the £2 line, it will need some catalyst to get us away from it, not enough buyers to do it!

skinny - 09 May 2012 10:29 - 289 of 369

And there in lies the rub - £22k (ish) worth traded so far today.

skinny - 19 Jun 2012 07:50 - 290 of 369

Costain Group Makes Senior Strategic Appointment

The Costain Group has appointed Mark Rogerson MBE to its Executive Board in the new role of Chief Development Officer.

As part of the on-going transformation of Costain, Mark, who joins from Serco, will be responsible for developing and negotiating large long-term contracts with customers. These will combine the broadening range of design, construction and maintenance services provided by the Costain Group.

His focus will be on growth through the further development of effective partnering strategies, optimising business development capability and playing a major part in the achievement of future targets through long term customer relationships, new contracts and acquisitions.

Previously Mark played a key role in Serco's development into a global brand. He joined Serco Group plc in 2004 and gained experience in account management and business development roles before being appointed as Managing Director of Serco's Defence Operations and Civil Aviation business. Subsequently, he joined the Board of Serco North America. In 2010, he became the Serco Group's Head of Operational Efficiency.

"I am delighted to be joining the Costain Group at a time when the Company is transforming into a leading UK engineering solutions provider," said Mark. "Costain has already made significant progress in developing its design and maintenance capabilities in addition to the established construction operation. We have a tremendous opportunity to establish further our presence as a broad based Tier One engineering solutions provider and I look forward to playing a major part in that process."

Andrew Wyllie, Costain Group Chief Executive, said:

"Our target customers are spending billions of pounds per annum on capital, operations and maintenance contracts. Those same customers are expecting suppliers to provide broad and bespoke solutions to their specific requirements by delivering a service across engineering consultancy, construction and operations and maintenance. We want to be the first choice for those customers and Mark, with his considerable experience and success in this field, will bring additional expertise and leadership which can only benefit the Company in the future."

skinny - 20 Jun 2012 07:29 - 291 of 369

Costain Joint Venture awarded fifth Crossrail contract

Costain (COST.LN), one of the UK's leading engineering solutions providers, is pleased to announce that in Joint Venture ('the JV') with Skanska, it has been awarded a contract by Crossrail Limited worth approximately GBP40m in total.

The JV will provide all works associated with the construction and fit out of the intermediate shafts and headhouses* at Eleanor Street and Mile End Park, along with the connecting adits to the main running tunnels. The shafts will provide access for ventilation, maintenance intervention, emergency exit and emergency services access for the operational railway.

This is the fifth contract which a Costain-Skanska JV has won from Crossrail and follows on from the successful delivery of Royal Oak Portal and Pudding Mill Lane portals. Work will commence immediately and is expected to complete in August 2018.

Andrew Wyllie, Chief Executive of Costain, said:

"This contract award is as a result of the successful implementation of our 'Choosing Costain' strategy, in which we focus on winning repeat business with major blue chip customers who are spending and will continue to spend on large scale projects. This is our fifth contract with Crossrail and further contributes to the strength of our order book, of which 90% is repeat business."

Ends

dreamcatcher - 28 Jun 2012 07:36 - 292 of 369

Costain Group PLC

("Costain" or "the Group")

Pre-Close Trading Update

http://www.moneyam.com/action/news/showArticle?id=4397197

skinny - 28 Jun 2012 07:50 - 293 of 369

Joint Venture

Costain and Severn Trent Announce New Joint Venture

Costain Group PLC and Severn Trent Plc have entered into a new Joint Venture ('JV') to provide complete business water and wastewater management services to high volume commercial and industrial water users.

The new entity, Severn Trent Costain, will combine the skills and experience of both Severn Trent Services and engineering solutions provider, Costain, to offer large multi-site water users a single expert supplier for all of their water and waste water requirements, from source to disposal. With a cohesive approach to water management Severn Trent Costain will help customers improve efficiencies, leverage cost savings, manage legal compliance and risk management issues, and resolve water efficiency challenges.

The UK water supply market is undergoing significant change as Government legislation drives increased business retail competition in the competitive UK water market. Severn Trent Costain will be at the forefront of these changes, helping to shape the emerging landscape, and enabling customers to combine their requirements for on-site water services with the opportunity to buy their water from a single national supplier.

Severn Trent Services and Costain have a proven track record in delivering improved efficiencies in water and waste water management through an existing joint venture to operate and maintain over 5,000 assets and 1,300 sites for the Ministry of Defence, one of the largest PFI contracts in Europe.

The two companies will combine parts of their existing operations within the JV (see Note 1 below), in which Costain will have an initial 40% shareholding.

skinny - 03 Aug 2012 07:31 - 294 of 369

Contract Wins

Costain Awarded Two Contracts

Costain, a leading engineering solutions provider, is pleased to announce that it has been awarded two contracts. Firstly, in Joint Venture, a £102m Northern Ireland Roads Service contract awarded for the design and construction phase of the A8 Belfast to Larne Dualling, split equally between the Joint Venture partners, Costain, Lagan Construction and Ferrovial Agroman.

The Joint Venture will design, construct, and provide aftercare for the whole of the A8 Dualling Belfast to Larne Works. The A8 is a strategically important road within Northern Ireland, servicing the port of Larne and carrying in excess of 17,000 vehicles daily.

The award follows on from the successful completion of the Early Contractor Involvement (ECI) consultancy phase of the scheme, announced on 28 January 2010. The work will begin immediately and is expected to complete in winter 2015.

Separately, Costain has also been appointed as preferred bidder design and build contractor by Severn Trent Water to replace its largest covered service reservoir sited at Fritchley, near Ambergate, Derbyshire, in a project worth around £27 million.

Ambergate reservoir is an asset of key strategic importance to Severn Trent Water with the capacity to supply mains water to approximately 590,000 customers across the East Midlands. The scheme will see the construction of two covered reservoirs of 90 and 50ML capacity, to replace the current 128ML reservoir.

A planning application has been submitted and is currently under consideration by the local planning authority. Once approved work is due to begin on site in January 2013 for four years, with some early enabling works taking place in coming months.

skinny - 23 Aug 2012 07:05 - 295 of 369

Half Yearly Report

· Revenue up 2% to £477.9 million (June 2011: £468.5 million)

· Underlying operating profit2 increased by 16% to £10.7 million (June 2011: £9.2 million)

· Adjusted profit before tax3 up 67% to £17.0 million (June 2011: £10.2 million)

· Basic earnings per share up 78% to 21.2 pence (June 2011: 11.9 pence)

· Strong net cash position of £131.5 million (June 2011: £149.2 million), after £17.9 million of acquisition spend in August 2011, and average month-end cash balance of £120.0 million during first six months of the year (June 2011: £132.8 million)

· Forward order book of £2.4 billion (30 June 2011: £2.3 billion) with over 90% repeat orders including new awards and extensions to existing contracts. In addition, preferred bidder position maintained at over £400 million

· Over £850 million of revenue secured for 2012as at the end of the first half, including an increasing proportion of support services activities, now standing at 28%

· Interim dividend increased for fifth successive year, by 8% to 3.50 pence (June 2011: 3.25 pence)

Lord Gnome - 29 Aug 2012 01:41 - 296 of 369

Hi Skinney,
Greetings from Beijing! Not had much opportunity to get to a computer for the last couple of weeks. Results from COST look solid enough. A good hold at these proces.

skinny - 29 Aug 2012 06:19 - 297 of 369

Good Morning Beijing!

I'm not currently in COST. The chart is looking fairly good and has closed above 225.

I am looking to buy back here or maybe BBY imminently.

Lord Gnome - 31 Aug 2012 15:34 - 298 of 369

Greetings from Hong Kong skinny. Nice to see COST still moving ahead. Breakout time approaching?

skinny - 06 Sep 2012 07:17 - 299 of 369

Re Contract

Costain Appointed to £288m Magnox Framework Contract

Magnox has awarded a framework contract worth around £288 million for the delivery of construction, infrastructure and maintenance projects across all 10 sites which are operated by Magnox on behalf of the Nuclear Decommissioning Authority.

The framework is worth approximately £30m per annum for up to ten years: an initial five years with the option to extend for a further five years by mutual agreement amongst the parties. Costain is one of two companies on the framework.

The project work which Costain will deliver includes: the design, construction and maintenance of permanent buildings and structures, infrastructure maintenance and extension works incorporating construction, civil engineering structures and ground works projects.

This framework contract builds on the work Costain is already carrying out for Magnox. In June 2011 the Group announced that, as part of a joint venture with AMEC and Jacobs Engineering Group Inc, it had been included on a framework to retrieve and process both wet and solid intermediate level radioactive waste across all the Magnox sites in the UK.

dreamcatcher - 12 Sep 2012 17:56 - 300 of 369

construction and civil engineering company Costain Group hit a peak of 251p today, and is currently just a shade below that on 249p. Last month's interim results were strong, showing a 16% rise in underlying operating profit, and that helped the shares to a 32% rise from early June, and 38% since November's 52-week low. But it's been volatile, with a brief peak approaching today's price in March.

Forecasts look pretty good, and the shares are on a forward P/E of 8 with a 4.4% dividend pencilled in. The firm has net cash, so there's no debt to worry about.

required field - 12 Sep 2012 18:00 - 301 of 369

At long last one of my stocks is rising...makes a change...

skinny - 06 Nov 2012 07:09 - 302 of 369

Interim Management Statement

Overview

Following its strong performance in the first half of 2012, the Group is continuing to perform well, in line with the Board's expectations.

The Group's strategy is to focus its resources on meeting the integrated service requirements of major customers, whose spending plans are underpinned by national needs, regulatory commitments or essential maintenance requirements and who are continuing to invest significantly in those requirements. The Group's strong relationships with its customers are underlined by the fact that over 90% of the Group's forward order book is made up of repeat orders.

During the period the Group has secured further contract awards and extensions including an appointment by Magnox to a framework contract worth around £288 million over a ten year period for the delivery of construction, infrastructure and maintenance projects across all ten sites operated by Magnox on behalf of the Nuclear Decommissioning Authority.

Costain continues to expand its support service related activities, both organically and by benefitting from the capabilities secured through the acquisition of two businesses last year. Currently 28% of revenues secured for 2012 comprise support service activities and this is expected to continue to grow.

Order book

The Group's forward order book currently stands at £2.4 billion. As well as including over £650 million of revenues secured for 2013 the order book also provides good long-term visibility with circa £1.6 billion of revenues secured for 2014 and beyond, the balance of the order book being for the remainder of 2012.

The Group has also maintained a strong preferred bidder position of c. £400 million.

The overall level of tendering activity across the Group's targeted markets remains high.

Financial position

There has been no material change in the robust financial status of the Group, which continues to have a strong net cash position and no significant borrowings.

Outlook

Costain is meeting the integrated service requirements of major customers, who are continuing to invest in essential infrastructure projects. Despite the on-going challenging economic conditions, Costain remains on course to deliver a result for the year in line with the Board's expectations.

Stan - 06 Nov 2012 07:24 - 303 of 369

On my watch list this one and a nice little trading range by the looks of their chart.

skinny - 12 Nov 2012 07:20 - 304 of 369

Contract Win

Costain Secures Three Additional Highways Appointments

Costain, a leading engineering solutions provider, is pleased to announce that it has been awarded a four-year technology contract by the Welsh Government and has also been appointed onto both lots of the Highways Agency Asset Support Framework.

Highways Technology Contract

The four-year technology contract, worth around £15m, is for the maintenance of Road Network Communications and Tunnel Systems across Wales. It involves routine maintenance and fault repair of technology systems such as CCTV cameras, variable messaging signs (VMS), emergency telephones and traffic signals and includes the strategic routes of the M4, A55, and Conwy tunnels.

Costain will commence the new service in early 2013, following a transition and handover period.

optomistic - 21 Nov 2012 16:00 - 305 of 369

Costain Annual Report Wins Investor Relations Award

21 November 2012

Costain has been recognised at a prestigious investor relations awards ceremony in London for its latest Annual Report.

Costain won the Most Effective Overall Annual Report (Printed and Online) in the Small Cap & AIM category at the Investor Relations Society’s (IR Society) Best Practice Awards held at The Pavilion, The Tower of London, on 20th November 2012.

Now in its 12th year, the IR Society Best Practice Awards recognise and reward best practice in investor communications, both online and in print.

The awards, which were attended by around 450 people from across the investor relations and corporate communications industry, were compered and presented by former Conservative Party politician and Cabinet Minister Michael Portillo.

The IR Society is the professional body for those involved in investor relations and is the focal point for investor relations in the UK.

The awards’ winners are determined through a robust, three-part review process. All entries are reviewed and scored against a checklist, based on the Society’s Best Practice guidelines, and the specific criteria for each award, set out in the awards entry form.

Commenting on the award, the judges said: “Costain Group presented a clear and easy to navigate report with the Remuneration Committee content being a particular feature.”

Investor relations is a strategic management function that incorporates finance, communication, marketing and strict compliance with stock exchange listing rules to enable the most effective two-way communication between a company, the financial community, its shareholders and stakeholders.

Costain started to integrate its financial and corporate responsibility reporting into its Annual Report four years ago.

This allowed shareholders and other stakeholders to better gauge how the company performed financially and, through the successful implementation of Costain Cares initiative launched in May 2011, see how it conducted its business in the communities in which it operated.

Catherine Warbrick, Costain’s Corporate responsibility Director, said: “We are delighted to have been recognised by the Investor Relations Society for our 2011 Annual Report, which showcases our approach to business. Through Costain Cares we are building a more responsible, longer-term sustainable business that creates economic, environmental and social value for all stakeholders.”

To view the 2011 Annual Report and see what caught the judges’ eyes, please click on the following link:

/media/314732/costain_ar11.pdf

ahoj - 21 Nov 2012 16:03 - 306 of 369

FTO should win prize for the worst reports!!

optomistic - 03 Dec 2012 15:26 - 307 of 369

Nice reading today with good price rise:

Major Leap For The Costain Group

3 December 2012

The Costain Group has leapt 70 places in the official league table for Britain’s Most Admired Companies.

Management Today magazine has announced the Most Admired League Table for 2012, comprising a total of 254 companies, and the Costain Group is in 61st position ahead of such names as Tesco, Carillion, Marks & Spencer, Barclays, Sir Robert McAlpine, Laing O’Rourke, Investec, WH Smith, Standard Life and Legal and General Group. In 2011, Costain was positioned 131.

The League Table is compiled in conjunction with Birmingham City Business School. Management Today magazine asked Britain’s largest public companies in 26 sectors to evaluate their peers.

skinny - 09 Jan 2013 07:21 - 308 of 369

Re Contract

Costain Joint Venture awarded £48m Network Rail contract

Costain (COST.LN), one of the UK's leading engineering solutions providers, is pleased to announce that it has been awarded a £48m contract with Network Rail for Phase Three of the West Coast Power Supply Upgrade, which is part of a c£300m investment by Network Rail in power upgrade.

The project will be delivered by ABC Electrification, a Joint Venture ('JV') between Costain, Alstom and Babcock. The JV brings together global electrification experience, large scale UK rail capability and major programme management expertise. The contract is part of Network Rail's £9.4bn investment in electrifying British railways. The works in the North West of England will safely support more frequent services and the longer trains that are planned for the West Coast Mainline.

Work will commence in early 2013 and is expected to complete in 2016.

skinny - 18 Feb 2013 09:35 - 309 of 369

RNS Number : 0719Y

Costain Group PLC

18 February 2013

Costain Group PLC

("Costain" or "the Group" or "the Company")

Costain Joint Venture Awarded GBP110 million Crossrail Contract

Costain, one of the UK's leading engineering solutions providers, is pleased to announce that in Joint Venture ('JV') with Skanska it has been awarded a Crossrail contract to construct the main station works at Bond Street Station, worth approximately GBP110 million.

The project will involve the main construction, platform fit-out and Mechanical and Electrical services for the Western Ticket Hall in Davies Street and the Eastern Ticket Hall in Hanover Square. It follows on from the contract already awarded to the JV and announced in March 2011, for the initial construction of the structure of the station.

Work will commence this month and is expected to complete in February 2017 ahead of Crossrail's opening in 2018.

Andrew Wyllie, Chief Executive of Costain, commented,

'This contract awarded to Costain by Crossrail is, we believe, further demonstration of the successful implementation of our 'Choosing Costain' strategy, in which we focus on building long term relationships with and winning repeat works from blue chip customers who are spending billions on meeting vital infrastructure needs. This contract further contributes to the strength of our order book, which comprises approximately 90% repeat business.'

optomistic - 18 Feb 2013 14:29 - 310 of 369

Good contact skinny!

" It follows on from the contract already awarded to the JV and announced in March 2011, for the initial construction of the structure of the station."

Crossrail obviously happy with Costain/Skanska.

Costain languishing at present price levels, should be 300p+ now.... results will prove the companies worth.
IMO

skinny - 18 Feb 2013 14:33 - 311 of 369

It looks like your faith is paying off!

optomistic - 18 Feb 2013 14:42 - 312 of 369

skinny, hope so but I am due a long service award for my faith! LOL

Lord Gnome - 19 Feb 2013 16:54 - 313 of 369

Nice sustained and sustainable rise. I've been in since 220 and I reckon these will go a lot, lot higher as the economy recovers. Solid company, solid balance sheet. I just wish they would do something about the yield - and I don't mean halving the share price either. A good outlook and a decent divi increase with next months results should see us clear 300p.

skinny - 06 Mar 2013 07:13 - 314 of 369

Final Results

Highlights

· Underlying operating profit2 up 4% to £25.1 million (2011: £24.1 million)

· Increase of 16% in adjusted profit before tax3 to £29.5 million (2011: £25.5 million)

· Adjusted basic earnings per share3 up 33% to 41.4 pence (2011: 31.1 pence), reflecting increased profits and a non-recurring tax timing benefit

· £105.7 million year-end net cash balance (2011: £140.1 million) and average month-end cash balance of £103.4 million (2011: £130.4 million)

· High quality forward order book of £2.4 billion, in excess of 90% from repeat orders including new awards and extensions to existing contracts (2011: £2.5 billion)

· Increase to over £700 million of revenue secured for 2013 as at 31 December 2012 (2011: over £650 million secured for 2012)

· Recommended increase in final dividend for the sixth successive year, taking the total for the year to 10.75 pence, a 7.5% increase on the prior year

Lord Gnome - 06 Mar 2013 07:37 - 315 of 369

Super set of figures, skinny.

skinny - 06 Mar 2013 07:41 - 316 of 369

Especially now they are correct! :-)

skinny - 27 Mar 2013 07:06 - 317 of 369

Recommended all-share merger

Recommended all-share merger
of Costain Group PLC and May Gurney Integrated Services plc

Highlights

· The Boards of Costain Group PLC ('Costain') and May Gurney Integrated Services plc ('May Gurney') are pleased to announce that they have reached agreement on the terms of a recommended all-share merger of Costain and May Gurney, which is to be implemented by way of a scheme of arrangement of May Gurney pursuant to which Costain will acquire the entire issued and to be issued ordinary share capital of May Gurney.

· Upon the Merger becoming effective, Costain, whose shares will continue to have a premium listing and to be traded on the London Stock Exchange's Main Market for listed securities, will be renamed 'Costain May Gurney PLC'.

· Each May Gurney Shareholder will receive 0.8275 New Costain Shares for every Scheme Share held, resulting in Costain Shareholders holding approximately 53% and May Gurney Shareholders holding approximately 47% of the issued share capital of Costain at the time the Merger becomes effective.

· The Merger will bring together two businesses with complementary service offerings to create one of the UK's leading integrated services providers to the rail, highways, water, waste, airports, hydrocarbons, power, nuclear, local government and fleet management sectors.

· The Boards of Costain and May Gurney believe that the Combined Group will have:

− a focus on delivering innovative and cost-effective solutions to address essential national needs in the sectors in which Costain and May Gurney operate;

− a larger addressable market, with a combined client base across the private sector, central and local government and regulated industries;

− an enhanced range of capabilities to meet customers' changing demands;

− the ability to benefit from the respective strengths of the Costain and May Gurney brands, which will continue to be used as required by customers;

− greater financial strength and scale, increasing the opportunity to bid for larger, more complex and multi-disciplinary contracts;

− the opportunity to leverage the best talent of the Costain Group and the May Gurney Group;

− significant earnings visibility underpinned by long term contracts and a combined order book of approximately £3.9 billion; and

− combined revenues of approximately £1.6 billion per annum.

· Based on its preliminary analysis, the Board of Costain believes that the Combined Group should be able to achieve recurring annual pre-tax cost synergies of approximately £10 million as a result of the Merger, primarily through savings stemming from the consolidation of corporate functions and shared services, with approximately £7.5 million expected to be realised in the financial year ending 31 December 2014 and the full £10 million in the financial year ending 31 December 2015.

· Post synergies, the Costain Directors expect the Merger to be double digit earnings enhancing[1] for Costain for the financial year ending 31 December 2014.[2]

1 Before amortisation of acquired intangibles, employment-related deferred consideration and integration costs.

2 Neither this statement nor the statements in the preceding paragraph relating to cost synergies are intended as profit forecasts. They should not be interpreted to mean that earnings per Costain Share or May Gurney Share for the current or future financial years would necessarily match or exceed the historical published earnings per Costain Share or May Gurney Share.

· The Combined Group will have a proven management team led by the current Costain CEO, Andrew Wyllie, as the Combined Group CEO and the current Costain Finance Director, Tony Bickerstaff, as the Combined Group Finance Director.

· David Allvey will be the Chairman of the Combined Group and Baroness Margaret Ford will be the Deputy Chairman. Following the Merger becoming effective, the Board of Costain will include all of the current Non-executive Directors of Costain and May Gurney, and Ishbel Macpherson, currently the Senior Independent Director of May Gurney, will be the Senior Independent Director of the Combined Group.

· The Combined Group's headquarters and registered office will be located at Costain's office in Maidenhead. May Gurney's office in Trowse in Norfolk will be retained as a shared services centre and the operational office for the Combined Group's hub in East Anglia.

· May Gurney intends to declare a second interim dividend of 5.6 pence per May Gurney Share in lieu of a final dividend for the year ending 31 March 2013. This dividend, which will be conditional upon the Merger becoming effective, will be paid after the Effective Date to May Gurney Shareholders on the register of members at the Scheme Record Time.

· On 6 March 2013 the Board of Costain announced that it was recommending, subject to Costain Shareholder approval, a final dividend of 7.25 pence per Costain Share in respect of the financial year ended 31 December 2012. If approved, the final dividend will be paid on 24 May 2013 to Costain Shareholders on the register of members as at the close of business on 19 April 2013. The New Costain Shares to be issued pursuant to the Merger will not carry any entitlement to the Costain final dividend in respect of the financial year ended 31 December 2012.

· The Merger is conditional on, amongst other things, the approval of Costain Shareholders and May Gurney Shareholders.

Lord Gnome - 27 Mar 2013 17:01 - 318 of 369

I sold out today Skinny. I got 303p which is a handsome profit on my purchase price of 223p in less than a year. I am taking a long hard look at CLLN as a replacement. Any talk of a bidding war for MAYG will have a negative effect on COST and absorb a lot of management time, even if they prove successful.

skinny - 27 Mar 2013 21:19 - 319 of 369

I've not been in COST for a while, but much like you - I would have bailed 1st thing.

CLLN has been on my watch for some time and looks interesting atm, my only sector play (so far) has been ISG - which suffers from a thin book a lot of the time.

skinny - 15 Apr 2013 07:21 - 320 of 369

Costain joint ventures win two Crossrail contracts

Costain, one of the UK's leading tier one engineering solutions providers, is pleased to announce that ATC ('ATC'), its Joint Venture with Alstom and TSO, has been awarded a contract worth approximately £300m to design, fit-out and commission the railway systems in Crossrail's tunnel network.

Under the contract, ATC will design and install track, overhead lines and mechanical and electrical equipment to fit out the 21km of twin tunnels currently being bored under the streets of London.

Design work will commence immediately, with the fit-out works starting in 2014, and will be carried out within the entire tunnelled and surface sections of the Crossrail route between Royal Oak, Pudding Mill Lane and Plumstead Portals.

Costain is also pleased to announce that in Joint Venture with Alstom it has been awarded the £15m contract for the design, construction and commissioning of the system that will provide traction power for the trains in the central tunnelled section of the Crossrail scheme.

Work will involve the construction of several auto-transformer stations and a feeder station site at Pudding Mill Lane to provide a 25 kV supply to the overhead line equipment that will power the new Crossrail trains. Costain is also constructing for National Grid the new cable tunnels to provide power to the other Crossrail feeder station at Kensal Green.

Crossrail will open in 2018. The Crossrail route will pass through 37 stations and will increase London's rail-based transport network capacity by 10 per cent. An estimated 200 million people will travel on Crossrail each year.

optomistic - 15 Apr 2013 17:09 - 321 of 369

The market once again seem unmoved by a contract announcement.
£300mill is a lot of money but there does appear to be a lot of work to be done and three companies to share the rewards.
I wish they could give us some indication as to what will be left on the bottom line, maybe then the market would be more enthusiastic.

skinny - 08 May 2013 07:05 - 322 of 369

Interim Management Statement

Update

Following its good performance in 2012, the Group has had a strong start to the current year and is performing in line with the Board's expectations.

Costain is continuing to secure new work from major blue-chip customers who are investing billions of pounds in capital, operations and maintenance contracts and who require increasingly innovative solutions to their complex requirements.

Costain's success in identifying, developing and implementing innovative solutions to meet those customer requirements is demonstrated in the following examples of new work won since the start of the year:

- In anticipation of Network Rail's £9.4 billion investment in electrifying Britain's railways, Costain established a joint venture to develop a range of innovative solutions that would directly meet the customer's requirements. As a result, the Group announced that it had won the West Coast Power Supply Upgrade contract, its first contract as part of a circa £300 million investment by Network Rail in power upgrade.

- As a consequence of an intense focus on understanding the customer's specific needs, the Group secured, in joint venture, a further four contracts from Crossrail. The latest awards include the very important circa. £300m contract to design, fit-out and commission the railway systems across Crossrail's tunnel network.

- By implementing new service attributes, innovation and performance enhancement into an existing contract, the Group was recently awarded by the Highways Agency a two-year extension to its Managing Agent Contractor Area 7 maintenance contract.

- Following the successful completion earlier this year of the engineering design, procurement and construction management at Centrica's Easington Gas Terminal, enabling the production of gas from the York field in the Southern North Sea, we have received a repeat order from Centrica for the front end engineering design (FEED) at the Barrow terminals which service the East Irish Sea gas fields.

Order book

As a result of new contract awards and extensions the Group's quality forward order book has increased to £2.5 billion (31 December 2012: £2.4 billion), of which over 90% is repeat orders.

In addition, the Group has also increased its preferred bidder position to over £500 million (31 December 2012: over £400m).

To date, over £800 million of revenue has been secured for 2013.

The overall level of tendering activity across the Group's targeted markets remains high.

Financial position

The Group continues to benefit from a robust financial position with a strong net cash position.

In its full-year results announcement the Group highlighted that net cash would trend lower as the Group benefits from its increased emphasis on support service related activities and on customers who increasingly utilise a target cost based form of contract, together with changing industry cash flow profiles.

Proposed all-share merger with May Gurney Integrated Services plc ('May Gurney')

The Boards of Costain and May Gurney announced on 26 March 2013 that they had reached agreement on the terms of a recommended all-share merger of Costain and May Gurney (the 'Proposed Merger').

On 24 April 2013, the Boards of Kier Group plc ('Kier') and May Gurney announced that they had reached agreement on the terms of a recommended offer for May Gurney by Kier (the 'Kier Offer'). At the time of such announcement, the value of the Kier Offer represented a premium of approximately 35 per cent. to the then value of the Proposed Merger.

On 25 April 2013, Costain announced that, having undertaken several months of detailed due diligence, it did not believe that it would be in the best interests of Costain shareholders for Costain to amend the terms of the Proposed Merger, that it would not be making a revised offer for May Gurney and that it intended to lapse the Proposed Merger at the earliest opportunity.

Accordingly, the Proposed Merger is expected to lapse, in accordance with its terms, on 29 May 2013.

The Group incurred transaction costs of approximately £4m (pre-tax) associated with the May Gurney proposal and these will be expensed in the first half results and treated as a one-off non trading item.

Outlook

Costain's continuing progress, despite challenging economic conditions, is a reflection of the Group's strategic focus on meeting the complex needs of customers by providing an integrated consulting, project delivery and operations and maintenance capability.

The Group believes that, driven by innovation, the strategic development of the business will be accelerated as we work with customers on their future programmes.

With strong financial resources and an increased order book, the Board remains confident of meeting its expectations in 2013.

skinny - 03 Jun 2013 07:08 - 323 of 369

Costain appointed to new TfL ECI framework

Costain, one of the UK's leading Tier One engineering solutions providers, is pleased to announce that it has been awarded one of four places on Transport for London's ('TfL') framework for Early Contractor Involvement (ECI) and Construction, initially worth approximately £200m overall. The Group is working on its first project within this framework: the Hammersmith Flyover strengthening project, worth approximately £60m.

The full project scope will be defined during the ECI phase, but is likely to involve strengthening the flyover using post-tensioning, replacing bearings, waterproofing and resurfacing the deck, and replacing the drainage.

Hammersmith Flyover, which is used by 90,000 road users a day, is situated on one of London's main strategic routes, and the strengthening work is essential to keep London moving.

The framework and the ECI work for Hammersmith start immediately; the framework will run for four years.

optomistic - 27 Jun 2013 09:11 - 324 of 369

"and is on-course to deliver a result for the year which is in-line with the Board’s expectations."

Paragraph taken from today's trading statement....if only just for once they could just be a little more enthusiastic I'm sure the s p would get a good boost.

optomistic - 01 Aug 2013 07:43 - 325 of 369

Acquisition of EPC Offshore Limited (EPC Offshore) and launch of Costain Upstream

1 August 2013

Costain, one of the UK's leading Tier One engineering solutions providers, is pleased to announce that it has today acquired EPC Offshore, a specialist oil & gas project management services company, for an initial consideration of £9.6 million (plus £1.0 million for excess cash). Costain also announces the launch of Costain Upstream, which will provide services across the life-cycle of upstream offshore oil and gas assets.

EPC Offshore Acquisition

Established in 2009, and with a workforce today of 75 professional staff led by founder and CEO Keith Wallace, EPC Offshore is a field development and project management specialist providing client-side services to North Sea oil and gas companies. The company is differentiated by its programme management expertise and the highly effective application of proprietary in-house systems and processes.

EPC Offshore delivered revenue of £11.7 million, adjusted EBITDA of £2.0 million (adjustments reflect the removal of certain shareholder related costs that will not be incurred by the business in future) and profit after tax of £1.1 million for the year ended 31 July 2012. EPC Offshore had gross assets of £3.3 million as at 31 July 2012. The acquisition is expected to be earnings enhancing to Costain in the first full year of acquisition.

The initial consideration for 100% of the share capital of EPC Offshore is £9.6 million (plus £1.0 million for excess cash included within the company) and was paid in cash on completion. Further consideration may also be payable depending on the financial performance of the business in the financial years ending 31 December 2014, 2015 and 2016 and the retention of certain key employees in 2016. This performance consideration is subject to a minimum of £2.0 million and a maximum of £14.4 million. The consideration funding will be provided from Costain’s existing debt facilities.

Launch of Costain Upstream

Costain Upstream will combine the capabilities of ClerkMaxwell, the oil and gas engineering and support services provider, which has more than doubled in size since its acquisition in 2011, and EPC Offshore to increase the scale of the Group’s services in the growing, high-value North Sea upstream oil and gas market. With a proven capability to deliver a wide range of services including engineering and consultancy, capital project management and asset support, the company will be strongly positioned in the UK offshore field development market where investment in 2013 is forecast at £13 billion (source: Oil & Gas UK - Activity Survey 2013).

The newly formed Costain Upstream will deliver engineering, capital projects and asset support services across four principal service lines; Field Development, Subsea Facilities, Topside Facilities, and Floating Systems, and comprises a resource pool of over 350 people.

Costain Upstream will be led by Keith Wallace, Chief Executive of EPC Offshore, supported by the leadership teams of both ClerkMaxwell and EPC Offshore. They will be based in Aberdeen with operating and support units in Maidenhead, Teeside, Manchester and Abu Dhabi. The acquisition of EPC Offshore will significantly accelerate the growth and market position of Costain Upstream.

Andrew Wyllie, CEO of Costain, commented:

“We are delighted to welcome EPC Offshore to the Costain Group, in an acquisition which will accelerate our stated strategy of broadening our range of capabilities in response to the requirements of major blue chip customers.

“The formation of Costain Upstream will significantly enhance our position in this sector, and the acquisition of EPC Offshore will boost its growth, complementing the front-end engineering and operations capabilities we acquired with ClerkMaxwell two years ago.

“There is a sizeable addressable market for these highly complex services and we see further compelling opportunities to grow our oil and gas footprint both in the UK and internationally.”

Stan - 22 Aug 2013 07:40 - 326 of 369

Interims out today http://www.moneyam.com/action/news/showArticle?id=4654960

optomistic - 24 Oct 2013 08:29 - 327 of 369

Stan, that's a bit out of date...Costain are paying the interim divi tomorrow.

skinny - 31 Oct 2013 08:31 - 328 of 369

Looking quite bullish (in a toppy market?).

Chart.aspx?Provider=EODIntra&Code=COST&S

skinny - 18 Nov 2013 07:01 - 329 of 369

Costain, one of the UK's leading tier one engineering solutions providers, announces that it has appointed Liberum Capital Limited as its Joint Corporate Broker, alongside Investec Bank plc, with immediate effect.

skinny - 07 Jan 2014 07:13 - 330 of 369

Trading Update

required field - 13 Jan 2014 09:37 - 331 of 369

400p target ?..perhaps...

required field - 25 Feb 2014 19:53 - 332 of 369

This is quickly becoming an impressive company to invest in.....the chart looks good...I reckon my previous post is on the cards...

required field - 25 Feb 2014 19:58 - 333 of 369

This is pointing to a chart breakout....

cynic - 25 Feb 2014 20:30 - 334 of 369

required field - 25 Feb 2014 21:03 - 335 of 369

Looks good doesn't it ?...

cynic - 25 Feb 2014 22:07 - 336 of 369

not for 400 it doesn't!

required field - 25 Feb 2014 23:34 - 337 of 369

500 perhaps ?.....

required field - 26 Feb 2014 08:04 - 338 of 369

Oh..well...it hasn't taken off this morning...back to ramping school RF....

required field - 27 Feb 2014 08:51 - 339 of 369

This is not going according to plan.....damn....good divi news with a fund raising at a low price = sp dive........grrrrrr....

optomistic - 27 Feb 2014 09:09 - 340 of 369

Borrow money from the shareholders...so that they can pay the shareholders a bigger divi...with the shareholders own money. I wouldn't fall for that one! Luckily I sold out at around 300p. not going back in even after this drop.

required field - 27 Feb 2014 09:19 - 341 of 369

To me it's a great little company...but the fundraising is at far too low a price.....and why ?....for a takeover of some kind possibly.....I'll be staying put and might do the open offer......here lies the danger of spreads and cfds (don't have any).....43p drop....and yet : yesterday you'd be sitting pretty.....I'll be patient and stay with my shares...

required field - 27 Feb 2014 09:20 - 342 of 369

50p plus drop.....far too low this fundraising...I had some sort of feeling with this stock...something was going to happen....

cynic - 27 Feb 2014 10:01 - 343 of 369

RF - genuinely sorry to hear of your pain old chap, though i do confess to a wry smile, for obvious reasons

btw, CFDs are really no different from "real" shares, for there are no time constraints, unlike s/b, though if your rash with your gearing, it can be very painful if things go wrong - i'm the expert at that :-)

skinny - 27 Feb 2014 10:11 - 344 of 369

cynic - there are no time constraints with S/B - I have some that have been open since last April.

cynic - 27 Feb 2014 10:13 - 345 of 369

really? .... thanks for that info; i always though they were akin to old-fashioned traded options with the possibility to extend the expiry date

required field - 27 Feb 2014 11:00 - 346 of 369

Just in shares...small percentage of my isa 6%....no cfds ...still the same....did not expect the drop...in fact I might pick up more when this settles...

required field - 27 Feb 2014 11:01 - 347 of 369

Skinny means rollover....

cynic - 27 Feb 2014 11:19 - 348 of 369

rollover surely = time constraint which you have then extended at a premium

skinny - 27 Feb 2014 11:57 - 349 of 369

You can roll over a DFB (daily funded bet) ad infinitum as far as I'm aware - there is a charge, but its fairly minimal.

I haven't traded CFDs since 2000 (I don't have tax liabilities any more) - and can't remember - is there either a front loaded or rolling charge with them?

Fred1new - 01 Mar 2014 17:31 - 350 of 369

Varies.

Shares Bets are for me more flexible.

required field - 01 Mar 2014 17:34 - 351 of 369

Steady on Fred1new....what no commie rhetoric ?....strange...

Fred1new - 01 Mar 2014 19:32 - 352 of 369

Better than a right winged tirade.

How is the Barmy army doing?

8-)

skinny - 07 May 2014 07:10 - 353 of 369

Interim Management Statement

Update

The Group has made a strong start to the current year and is performing in line with the Board's expectations.

As a result of the implementation of its 'Engineering Tomorrow' strategy, Costain is continuing to secure new work from major blue-chip customers who are investing billions of pounds in capital, operations and maintenance contracts and who require increasingly innovative solutions to solve their complex requirements.

Costain's major customers continue to consolidate their supply chains as they seek to work in a more strategic and collaborative manner with a reduced number of tier one engineering solutions providers. This is reflected in the following contracts secured since the start of the year:

- Appointed to the Network Rail £2 billion National Electrification Programme, with the contract worth an initial £900 million over seven years to the Group's joint venture.

- As part of the multi-billion pound Crossrail programme, a contract from Network Rail, worth an initial £150 million to Costain, to deliver the infrastructure and stations between Stratford and Shenfield.

- Appointed by National Grid to three frameworks as part of their overall investment, to 2021, of approximately £2.5 billion on new electricity transmission lines and cables and £6.9 billion on upgrading gas transmission infrastructure.

Order book

As a result of new contract awards and extensions the Group's high-quality forward order book has further increased to a new record level of £3.2 billion (31 December 2013: £3.0 billion), of which over 90% is from repeat orders.

In addition, the Group maintained its preferred bidder position at over £400 million (31 December 2013: over £400m).

To date, over £900 million of revenue has been secured for 2014 (31 December 2013: over £750 million).

The overall level of tendering activity across the Group's targeted markets is high.

Financial position

On 18 March 2014 the Group completed the £70.3 million (net of expenses) capital raise enabling Costain to take greater advantage of the opportunities in its chosen markets and accelerate the Group's medium and long term prospects.

The Group continues to benefit from a robust financial position with a strong net cash position in line with expectations.

Outlook

Costain 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.

With increased financial resources, a record order book and a strong pipeline of opportunities, the Board remains confident of meeting its expectations in 2014.

skinny - 21 Aug 2014 07:09 - 354 of 369

Half Yearly Report

Highlights

· Underlying operating profit2 up 5% to £11.2 million (2013: £10.7 million)

· Increase of 8% in adjusted profit before tax3 to £9.1 million (2013: £8.4 million)

· Record forward order book up 10% to £3.2 billion (2013: £2.9 billion) with over £700 million of new contracts and extensions secured in the first half. Over £950 million of revenue secured for FY 2014 by 30 June (2013: over £850 million secured for FY 2013)

· New contracts in the period include:

o Appointment to Network Rail's £2bn National Electrification Programme
o Further Barrow Gas Terminals commission with Centrica
o Crossrail North East Spur appointment by Network Rail
o Appointment by National Grid to three transmission frameworks

· Nature of new contract awards reflect Costain's position as the engineering solutions provider with an established reputation for innovation

· Over 90% of high quality order book comprises repeat orders and over 90% lower risk, target cost, cost reimbursable forms of contract

· Successful capital raise of£70.3 million (net of expenses) to take advantage of the growing number of opportunities available to accelerate the Group's development

· Net cash balance of £133.8 million (2013: £64.3 million)

· Interim dividend of 3.25 pence per share on enlarged capital base (2013: 3.75 pence)

HARRYCAT - 12 Sep 2014 08:53 - 355 of 369

StockMarketWire.com
Costain, the engineering solutions provider, has been appointed by Southern Water to help deliver its 2015-2020 (AMP6) investment programme. The work, which is being undertaken in a joint venture with MWH, is initially worth around £200m over the five year period. There will also be the option to extend the framework beyond 2020 into AMP7 (2020-2025). Costain says the appointment reinforces its long-term collaboration with Southern Water, which provides 4.5 million people across the South East of England with water and wastewater services.

Chief executive Andrew Wyllie said: "We are delighted to have been re-appointed to Southern Water's AMP framework and look forward to working with the Company and its other partners. We have a track record of working innovatively to provide solutions to complex and challenging customer requirements and we look forward to bringing this expertise to bear for the benefit of Southern Water and the communities it serves.

"This is the third major contract Costain has secured in the AMP6 cycle, and provides further demonstration of our expertise in the water sector, as well as our ability to win contract extensions by entering into long term partnerships with blue chip customers."

HARRYCAT - 05 Nov 2014 07:57 - 356 of 369

Interim Management Statement
Costain, the engineering solutions provider, today issues its Interim Management Statement covering the period from 1 July 2014 to the current date.

The Group is today hosting a visit for investors and analysts to Paddington and Reading and later to its Maidenhead office. No new material information will be disclosed.

Update
Following a strong performance in the first half of the year, Costain continues to perform well and in line with the Board's expectations.

The Group is benefiting from its unique and well-positioned strategy, focusing on major customers who are investing billions of pounds meeting national needs in energy, water and transportation, and who require solutions to their complex business challenges.

Costain's reputation for developing and implementing innovative engineering led solutions through a range of integrated services and the benefits of the successful capital raise of £70.3 million (net of expenses) in March are enabling the Group to continue to take advantage of the opportunities created by its strategy and to continue to win significant contracts and extensions.

Additional work won during the period under review, demonstrating the range of skills and capabilities of the Group, include:

· Southern Water's 2015 - 2020 (AMP6) investment programme;
· Two Smart Motorway Scheme contracts on the M1 for the Highways Agency;
· Upgrade of the Dimlington gas terminal for Perenco; and
· Appointment by BAE Systems, as announced separately today, as one of its framework contractors on the redevelopment of its submarine site, in Barrow-in-Furness, Cumbria.

Order book
The Group's forward order book has increased further since thehalf-year, and currently stands at a new record level of £3.3 billion.

As well as including over £900 million of revenues secured for 2015 (2013: over £700 million secured for 2014), the order book also provides good long-term visibility with over £2.2 billion of revenues secured for 2016 and beyond.

In addition to the record order book, the Group has a strong preferred bidder position of over £400 million, and the level of tendering activity across all its target markets remains high.

The increasingly strategic nature of our long-term customer relationships has ensured that over 90% of the order book comprises repeat business and is in target cost, cost reimbursable, collaborative forms of contract providing increased visibility over long-term margins at lower risk.

Financial position
The Group has a robust financial position with a strong net cash position in line with expectations.

Outlook
The Group is on track to deliver a result for the current year in line with the Board's expectations and, with a record order book, strong cash position and high level of tendering activity, is well positioned to deliver growth over the medium term.

HARRYCAT - 05 Nov 2014 08:00 - 357 of 369

Costain awarded framework contract by BAE Systems for submarine site redevelopment programme

Costain, the engineering solutions provider, has been appointed by BAE Systems as one of its framework contractors on the eight-year, £300m-plus programme to redevelop its submarine site, in Barrow-in-Furness, Cumbria.

The Programme involves the redevelopment of the Barrow site in preparation for the building of a replacement for the Vanguard class submarines, as part of the renewal of the UK's nuclear deterrent. Costain will provide nuclear project delivery on operational sites and will deliver the integration of works into existing submarine build programmes.

Work will commence in early 2015.

HARRYCAT - 03 Mar 2015 08:06 - 358 of 369

StockMarketWire.com
Engineering solutions provider Costain reports another strong performance in the year to the end of December with increases in revenue and underlying operating profit and a record order book.

Revenue, including the group's share of joint ventures and associates, for the year increased to £1,122.5 million (2013: £960.0 million), circa 30% of which was derived from support service related activities.

Group underlying operating profit increased to £28.7 million (2013: £27.4 million).

Adjusted profit before tax was £28.5 million (2013: £31.0 million); the reduction is due to the significant profit generated in 2013 on the sale of the Group's minority shareholdings in three joint ventures.

Adjusted basic earnings per share was 27.8 pence (2013: 41.0 pence), the lower level also reflecting the enlarged capital base following the capital raise completed in March 2014.

Costain said its Infrastructure division had an excellent year with increases in revenue, operating profit and order book. The Natural Resources division delivered an operating profit excluding the impact of a provision associated with the legacy Greater Manchester Waste PFI contract awarded in 2007.

The group's net cash position at 31 December 2014 was £148.5 million (2013: £57.7 million). The increase in the net cash position reflects the successful £70.3 million (net of expenses) capital raise in March, and benefitted from the timing of positive contract cash flows at the period end.

The group's order book has further increased, finishing the year at a new record level of £3.5bn (31 December 2013: £3.0bn).

Chairman David Allvey said: "We have delivered another strong performance, with increases in revenue and underlying operating profit and an enhanced net cash position. "Costain has an established reputation for innovative multi-disciplined services that enables the Group to win large, long-term contracts addressing the UK's national needs in energy, water and transportation. "This strong market position and the additional capital secured during the year is enabling the Group to accelerate its growth, as demonstrated by a record order book of £3.5 billion."

HARRYCAT - 17 Aug 2015 07:40 - 359 of 369

StockMarketWire.com
Costain, the engineering solutions provider, has completed the acquisition of Rhead Group, a professional services consultancy with a focus on programme and commercial management.

Rhead Group, established in 1985 and operating with over 550 people, provides a range of solutions for the lifecycle of infrastructure, construction and asset management programmes, primarily in the UK, for a number of blue-chip customers including National Grid, Wales & West Utilities and BAE Systems. Rhead Group's senior management team, including Nigel Curry, Rhead Group CEO, will remain with the business. Costain's strategy is to focus on major customers spending billions of pounds addressing national needs in energy, water and transportation. Those customers are consolidating their supply chains and are seeking an increasingly integrated service offering from their Tier 1 service providers through larger, longer-term collaborative contracts. Rhead Group will further enhance Costain's programme management and advisory capability across all the Group's operations as part of that integrated service offering.

Rhead Group has been acquired for a total cash consideration of £36 million on a debt free / cash free and normalised working capital basis and the consideration has been funded from Costain's existing cash and debt facilities.

In the year ended 31 July 2014, Rhead Group generated revenues of £63.5 million and EBITDA of £5.2 million (before exceptional administrative expenses of £0.7 million).

HARRYCAT - 20 Aug 2015 07:24 - 360 of 369

StockMarketWire.com
Engineering solutions provider Costain reports another strong performance with increases in revenue and underlying operating profit, a record order book and a 15% increase in the interim dividend for the first six months of 2015.

Revenue increased to £621.1 million (2014: £529.1 million) with underlying operating profit up 17% to £13.1 million (2014: £11.2 million). The group had a net cash balance of £126.8 million (2014: £133.8 million).

Adjusted pre-tax profits rose to £11.4m from £9.1m while reported pre-tax profits jumped to £10.0m from £5.8m.

The group also reports a record forward order book up 16% to £3.7 billion (2014: £3.2 billion). Over 90% of order book comprises repeat orders and over 90% lower risk target cost, cost reimbursable forms of contract.

Chief executive Andrew Wyllie said: "We have delivered another strong performance in the first half of the year. In addition to growth in revenue and profit, our order book now stands at a record £3.7 billion.

"Costain has an established reputation for delivering innovative integrated services that enables the Group to win large, long-term contracts addressing the UK's National needs in energy, water and transportation.

"Costain is accelerating its growth and following the 17% increase in underlying operating profit in the first half of the year is on course to deliver a result for the year at the upper-end of the Board's expectations. Our confidence for the future is reflected in the 15% increase in dividend."

HARRYCAT - 20 Aug 2015 12:47 - 361 of 369

Liberum Capital reiterates buy on Costain Group, target raised from 367p to 420p.

HARRYCAT - 30 Mar 2016 09:16 - 362 of 369

Peel Hunt today initiates coverage of Costain Group PLC (LON:COST) with a buy investment rating and price target of 450p.

HARRYCAT - 30 Jun 2016 07:48 - 363 of 369

StockMarketWire.com
Costain says first half trading has been strong and the group is on course to deliver a result for the year in line with the board's expectations.

The group says it has maintained its record order book which, at £3.9 billion, is also over 5% higher than the £3.7 billion recorded at 30 June 2015. Repeat orders continue to represent more than 90% of the order book, reflecting the strength of Costain's long term relationships with its customers.

The group also has a preferred bidder position of over £400 million and tendering levels remain high.

The group says its unique and focused 'Engineering Tomorrow' strategy has successfully positioned the business to provide the range of innovative integrated services demanded by its major customers who are spending billions of pounds on projects, underpinned by legislation and regulation in the UK, upgrading and renewing the country's energy, water and transportation infrastructures.

HARRYCAT - 24 Aug 2016 08:25 - 364 of 369

StockMarketWire.com
Costain, the engineering solutions provider, reports a strong first half performance with a 21% increase in underlying operating profit, a record order book and a 15% increase in the interim dividend.

Revenue increased to £791.4 million (2015: £621.1 million) while underlying operating profit rose by 21% to £15.8 million (2015: £13.1 million) and the order book increased to a record £3.9 billion, up 5% on June 2015.

Costain says outlook is positive with:
- Over £1.4 billion of revenue secured for FY 2016 by 30 June (2015: over £1.2 billion secured for FY 2015)

- Net cash balance of £69.2 million (2015: £126.8 million) and increased banking facilities

The interim dividend is increased by 15% to 4.3 pence per share (2015: 3.75 pence).

Chief executive Andrew Wyllie said: "We have delivered another strong performance in the first half of the year, with a 21% increase in underlying operating profit, and our order book is at a record level. The dividend has been increased 15% in line with our progressive policy. "These are exciting times as billions of pounds are being spent upgrading and renewing the country's energy, water and transportation infrastructure. "There is a revolution in the deployment of technology-led innovative solutions to meet the increasingly complex requirements of our national infrastructure needs, and we are continuing to rapidly transform the Costain business to be at the heart of the opportunity this presents. "Costain remains on course to deliver a result for the year in line with the Board's expectations."

HARRYCAT - 21 Nov 2016 08:09 - 365 of 369

StockMarketWire.com
Costain has been awarded a contract worth £113 million by National Grid to upgrade its Peterborough and Huntingdon compressor stations.

The programme of work is part of National Grid's Emissions Reduction Project and will conclude in 2021. Following completion of a successful Front End Engineering Design (FEED) project, Costain will now undertake the detailed design, decommissioning, build and re-commissioning of the two compressor stations.

The work will ensure both compressor stations comply with the Industrial Emissions Directive and Pollution Prevention and Control regulations. The project will also increase system resilience and reduce overall risk on the National Transmission System by replacing aging assets with modern, efficient equipment.

Chief executive Andrew Wyllie said: "This is another example of Costain's strategy in action. From design and delivery to programme management, we are providing a full range of engineering solutions to National Grid to help them meet national needs by providing a secure and sustainable energy supply."

HARRYCAT - 05 Jan 2017 08:08 - 366 of 369

StockMarketWire.com
Costain has secured a place on Transport for London's surface transport major projects framework, which covers the delivery, upgrade and maintenance of bridges, tunnels and highways across London and expects full year rtesults to be in line with forecasts.

Costain is one of three suppliers for the four-year Framework, which is valued at up to £500m in total, and includes design, planning and complex project delivery work. The Framework may be extended by two years at TfL's discretion.

During a previous Framework Costain carried out the strengthening of the Hammersmith Flyover, a highly complex project which was delivered ahead of schedule. Chief executive Andrew Wyllie said: "We are delighted that TfL has again chosen Costain as a delivery partner for the Major Projects Framework. It is a reflection of our strong track record in applying innovative techniques in highways."

The group also said that since the announcement of its interim results on 24 August, it has continued to perform well and expects to deliver full-year results in line with the Board's expectations. The group says its unique and focused 'Engineering Tomorrow' strategy is successfully positioning the business to provide the range of innovative integrated services demanded by its major customers who are spending billions of pounds in the UK upgrading and renewing the country's energy, water and transportation infrastructures.

Liberum Capital today reaffirms its buy investment rating on Costain Group PLC (LON:COST) and raised its price target to 430p (from 405p)

HARRYCAT - 08 May 2017 07:53 - 367 of 369

StockMarketWire.com
Costain Group's current trading is in line with expectations, shareholders at the annual general meeting today will be told.

Chief executive Andrew Wyllie will review the past year in a short presentation and tell shareholders that the board remains confident in the future and looks forward to reporting on further progress in 2017.

HARRYCAT - 23 Aug 2017 07:31 - 368 of 369

StockMarketWire.com
Costain is on track to meet full-year forecasts after a strong first half performance with a 34% growth in underlying operating profit and a 10% interim dividend increase.

Revenue, including its share of joint ventures and associates, increased to £874.5 million (2016: £791.4 million) while underlying operating profits rose to £21.2 million.

The group said the order book stood at £3.7 billion, of which over 90% continued to be repeat business (30 June 2016: £3.9 billion), and tendering levels remained high.

It said over £1.5 billion of revenue had been secured for FY 2017 at 30 June (2016: over £1.4 billion secured for FY 2016).

Chief executive Andrew Wyllie said: "We delivered another strong performance in the first half of the year with 34% growth in underlying operating profit and a 10% interim dividend increase.

"We are transforming rapidly to differentiate Costain as the UK's leading smart infrastructure solutions company.

"We are delivering technology-based solutions demanded by our clients who are spending billions of pounds, underpinned by legislation and regulation, to meet ever more complex challenges to enhance the nation's infrastructure.

"Costain is on course to deliver results for the year in line with the Board's expectations."

HARRYCAT - 07 Nov 2018 09:44 - 369 of 369

StockMarketWire.com
Infrastructure solutions company Costain said Wednesday it had been awarded a six-year framework contract by Highways England to deliver the regional investment programme.

The combined value to Costain over the six-period was expected to be about £1.5bn.

Under the terms of the contract, Costain agreed to deliver the regional investment programme during road period 1, from 2015-2020, and road period 2, from 2020-2025.

The work to be delivered under the framework formed part of Highways England's ongoing objectives to improve safety, increase capacity and to improve the user experience across its network.

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What prospects for Costain (COST)