Update Regarding A66 Project

Costain Group PLC

08 June 2023

 

 

Costain Group PLC

8 June 2023

 Update Regarding A66 Project

 

Costain Group PLC ("Costain" or "Group") has noted media reports regarding its involvement on the A66 project and the potential impact on Costain's order book.

Due to a change in contracting strategy for the A66 only, we have agreed with National Highways that our involvement in the A66 scheme will come to an organised and managed end. Costain is one of four parties involved in the A66 and this project was included in our preferred bidder book and therefore this decision has no impact on the Group's order book.

Costain takes a prudent view of its order book, and the overall value of its order book is broadly unchanged from £2.8bn as announced at our full year 2022 results on 14 March 2023.

Costain continues to bid on a number of significant projects across the Group.

Costain confirms that it will continue to work on the A12 Chelmsford to A120 widening project, supporting the delivery of the project's development consent order application and delivering a package of enabling works for the scheme. We will continue to bring our innovation and expertise to other critically important National Highways projects.

The Board remains confident of delivering full year results in line with its expectations.

Enquiries

 

Investors and analysts                                                                   [e-mail]

Paul Sharma, Costain                                                                      [phone]

Financial media - Headland                                                         [e-mail]

Andy Rivett-Carnac                                                                         [phone]

Charlie Twigg                                                                                   [phone]

Notes to editors

 

Costain helps to improve people's lives by creating connected, sustainable infrastructure that enables people and the planet to thrive. We shape, create and deliver pioneering solutions that transform the performance of the infrastructure ecosystem across the UK's transport, energy, water, and defence markets.

We are organised around our customers anticipating and solving their challenges and helping to improve performance. By bringing together our unique mix of construction, consulting and digital experts we engineer and deliver sustainable, efficient and practical solutions.

 

END