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?

Up again....




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

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.”

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.

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.

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.

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.

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!

And there in lies the rub - £22k (ish) worth traded so far today.

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."

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

Costain Group PLC

("Costain" or "the Group")



Pre-Close Trading Update



http://www.moneyam.com/action/news/showArticle?id=4397197

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.

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.

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)

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.

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.

Greetings from Hong Kong skinny. Nice to see COST still moving ahead. Breakout time approaching?

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.

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.