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?

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.

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

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

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

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

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

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

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

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

Dividend raised aswel......

COST

Smashes broker concensus figures apart.

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

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

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

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."

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.

GF - don't forget BBY reporting tomorrow.

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

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

yes excelent new contract win skinny.

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

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.