Costain boosts year-quit money pot 33% to £164m
In a City buying and selling inform this morning the firm talked about tough working capital management had viewed internet money constructed as much as phases tremendously forward of market expectations whereas profits had been expected to be based fully totally on forecasts. Alex Vaughan, CEO, Costain talked about: “We occupy had a obvious buying
In a City buying and selling inform this morning the firm talked about tough working capital management had viewed internet money constructed as much as phases tremendously forward of market expectations whereas profits had been expected to be based fully totally on forecasts.
Alex Vaughan, CEO, Costain talked about: “We occupy had a obvious buying and selling year and ask to sigh adjusted working profit based fully totally on market expectations.
“Our money efficiency has been very tough, driven by persevered improved operational efficiency, an amplify in monetary profits when in contrast with 2022, and ongoing obvious working capital timings.”
He added: “We’re having a ogle forward to supporting Northumbrian Water on this fresh working relationship, upgrading both its wastewater and water treatment infrastructure.
“This contract in finding no longer only shows our persevered enhance within the water sector, but it also reinforces our dedication to enhancing necessary infrastructure within the North-East of England. This entails most most important upgrades to the remark’s highways and our carbon capture work in Teesside as segment of the East Dash Cluster, producing opportunities for regional suppliers and employment for native folks.”
Northumbrian Water Crew has appointed Costain as one among its companions to assemble and produce its strategic infrastructure upgrade programme.
The Northumbrian Water AMP8 framework will glimpse contracts awarded with a seemingly value of as much as £670m to Costain at some level of a 12-year length and builds on fresh most important wins within the water sector.
The contract begins straight away and can honest trek for a seven-year initial term with an possibility for a five-year extension.
AMP8 will glimpse the superb funding within the water industry for an extended time.
In 2023, Costain extended into AMP8 its Managed Provider Provider contract with United Utilities and its consultancy work with Yorkshire Water. Costain has also won funding from Ofwat to toughen innovation projects.
