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Costain Group PLC on Wednesday it delivered a good performance in the first half of the year, with revenue ahead of market expectations.
The Maidenhead, England-based construction and engineering firm said this strong performance reflected the inflation recovery mechanisms built into its contracts as the company passed through increased costs with higher prices.
Shares in Costain were up 8.9% at 37.80 pence on Wednesday morning in London following the announcement.
The firm added that adjusted operating profit for the half was in line with management's expectations, with profitability increasing year-on-year. It expects the adjusted operating margin to be flat.
Full-year expectations for adjusted operating remain unchanged, anticipating ‘good’ growth against the previous year.
Costain will publish its half-year results on August 24.
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