Costain's order book hits record £2bn

Costain's order book has risen to a record £2bn as of 31 December 2008, it has announced this morning.

The contractor's position means that it is 25% ahead of the same stage last year, when its order book stood at £1.6bn.

In a trading update, Costain said that it has already secured work worth £700m for 2009, while its preferred bidder positions stand at over £1bn.

And it added that the firm has maintained a "strong" cash position of more than £100m.

Chief executive Andrew Wyllie commented: "Costain is demonstrating its resilience in the current economic environment. We have a range of excellent customers who are expected to continue with their investment programmes, a strong cash position, a focussed management team and an ongoing rigorous management of costs."