Investing.com — London-listed infrastructure firm Costain Group has announced that its adjusted operating profit for the year aligns with market expectations, and it anticipates a growth in margins.
The company announced on Monday that the market forecasts for adjusted operating profit, which excludes exceptional and other one-off items, range from £41.9 million to £43.3 million ($52.3 million-$54.1 million).
Costain Group has reported a positive performance throughout the year, with the expectation that net cash at the end of the year will align with the market consensus of £160 million.
The company’s high-quality forward work position by the end of 2024 has increased by £1.5 billion to £5.4 billion, compared to £3.9 billion in the previous year.
This increase, coupled with growth on existing frameworks and attractive levels of bidding activity, has boosted the group’s confidence in its ability to deliver further growth in operating profits and margins.
Shares in Costain Group saw an increase of 5 pence, or 5.8%, at 91 pence in early morning trade in Europe.
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