Latest news with #CostainGroup
Bloomberg
06-07-2025
- Business
- Bloomberg
UK Builders Find Support in Labour's Plan to Upgrade Roads and Railways
British infrastructure firms stand to benefit from the Labour government's spending plans for roads, railways and energy projects, with strong order books expected to feed into improving outlooks during the upcoming earnings season. Companies including Balfour Beatty Plc, Costain Group Plc, Morgan Sindall Group Plc and Kier Group Plc are lined up to win orders after Chancellor of the Exchequer Rachel Reeves announced £113 billion ($154 billion) of funding for public infrastructure across the UK last month. That includes £39 billion to build affordable homes, £14 billion for the Sizewell C nuclear project in Suffolk and £15 billion for new transport infrastructure across the north and midlands.
Daily Mail
16-06-2025
- Business
- Daily Mail
Engineer Costain readies £10m share buyback thanks to pension surplus
Costain Group shares soared on Monday after the engineering company announced a £10million share repurchase scheme. The London-based firm, which built the Thames Barrier and Channel Tunnel, said the buyback follows the valuation of its defined benefit pension scheme being in surplus for the second consecutive year. It added that the scheme was an 'appropriate and value-enhancing use of cash' that would still allow the business to invest for growth. Costain also told shareholders trading in the first half of 2025 had been in line with annual forecasts, and it expects to achieve a 4.5 per cent adjusted operating margin target. Shares in the company climbed 8.2 per cent to 139.2p on Monday morning, making them one of the FTSE All-Share Index's biggest risers. Costain has continued to win new work this year, including a contract to support the construction of the Sizewell C nuclear plant in Suffolk. The UK Government committed last week to investing £14.2billion in building Sizewell C, which will generate enough energy to power six million homes once completed. Costain also struck deals with Urenco, a nuclear fuel consortium, to design a new advanced fuels production facility and upgrade infrastructure at some enrichment sites in Cheshire. And earlier this month, the firm secured further work with Anglian Water to deliver an additional 260 kilometres of pipelines across the East of England over the next five years. Costain's forward work position is over four times its annual revenue. 'Costain is well positioned to benefit from the government's emerging infrastructure plan, and strength in regulated markets like water and energy,' said analysts at broker Panmure Liberum, which has raised the group's share price target from 150p to 170p. Fellow brokers Investec and Peel Hunt similarly lifted Costain's share price target from 135p to 145p and 150p, respectively. Alex Vaughan, chief executive of Costain, said: 'Over the past three years, we have executed on our strategic plans, improved the quality and size of the group's contract portfolio, delivered on our margin targets, significantly strengthened our net cash position and successfully refinanced our bank and bonding facilities.' Founded in 1865, Costain is a major contractor on HS2, gaining a deal worth up to £400million last December to provide tunnel and line-side mechanical and electrical systems for the high-speed rail line. Five years ago, the business won a £3.3billion contract to design and construct the tunnels connecting HS2 to London Euston station.
Yahoo
11-04-2025
- Business
- Yahoo
Costain Group Full Year 2024 Earnings: EPS Beats Expectations, Revenues Lag
Revenue: UK£1.25b (down 6.1% from FY 2023). Net income: UK£30.6m (up 39% from FY 2023). Profit margin: 2.4% (up from 1.7% in FY 2023). EPS: UK£0.11 (up from UK£0.081 in FY 2023). This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 3.9%. The primary driver behind last 12 months revenue was the Transportation segment contributing a total revenue of UK£845.8m (68% of total revenue). Notably, cost of sales worth UK£1.15b amounted to 92% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to UK£57.6m (79% of total expenses). Explore how COST's revenue and expenses shape its earnings. Looking ahead, revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Construction industry in the United Kingdom. Performance of the British Construction industry. The company's shares are down 7.2% from a week ago. We don't want to rain on the parade too much, but we did also find 1 warning sign for Costain Group that you need to be mindful of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
12-03-2025
- Business
- Yahoo
Costain Group Full Year 2024 Earnings: EPS Beats Expectations, Revenues Lag
Revenue: UK£1.25b (down 6.1% from FY 2023). Net income: UK£30.6m (up 39% from FY 2023). Profit margin: 2.4% (up from 1.7% in FY 2023). The increase in margin was driven by lower expenses. EPS: UK£0.11 (up from UK£0.081 in FY 2023). All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) exceeded analyst estimates by 3.9%. Looking ahead, revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Construction industry in the United Kingdom. Performance of the British Construction industry. The company's shares are up 7.2% from a week ago. While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Costain Group's balance sheet and an in-depth analysis of the company's financial position. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
