Costain

Pre-tax profits at Costain rose by more than a fifth in the first half of this year, thanks to inflation protection mechanisms written into its contracts. In interim results for the half-year ended 30 June, published this morning, the contractor reported pre-tax profits of £11.2m, compared with £9.1m during the…

A construction worker involved in Costain's Gatwick Airport station upgrade venture has died. The 35-year-old male was employed by Kilnbridge, a structural works subcontractor chosen to work on the £150m project. He died during the early hours of 22 July. Police officers were called to the site following reports that…

Costain’s revenue in the first half of the year has surpassed market expectations, the contractor has announced. In a trading update this morning, the civils firm outlined that it expects its full-year turnover to also beat what analysts expected. In the year ending 31 December 2021, it turned over £1.14bn.…

National Highways has demanded that its tier one contractors submit details of their anti-fraud policies as part of a crackdown on suspected malpractice on its contracts.  Malcolm Dare, executive director for commercial and procurement at National Highways, has given contractors two weeks to submit evidence of their own internal safeguards…

Costain has teamed up with EasyJet, Airbus and other big names to drive the development of hydrogen infrastructure and technology. The construction giant is one of nine organisations forming a partnership with the aim of accelerating the UK’s transition to alternative fuel. Hydrogen South West, which includes Aberdeen-headquartered engineering consultancy…

Costain chief executive Alex Vaughan has vowed to work with suppliers to help them manage the impact of the war in Ukraine. Vaughan said the £1.1bn-turnover contractor was already in discussions with its supply chain about ways to mitigate the effects of inflation and material shortages expected as a consequence…

All tier one contractors still working on Crossrail will be demobilised during the next six weeks. Crossrail chief executive Mark Wild (pictured) confirmed that the Costain Skanska JV (CSJV) will wrap up at Paddington station within four weeks. Meanwhile, a JV between Balfour Beatty, Morgan Sindall Infrastructure and Vinci Construction…

Costain has ended its contract dispute with National Grid with a payment of £43.4m. In a stock market update the contractor stated that the final settlement is reported to have been £10.1m less than it had previously estimated.  The contractor said that the payment was reduced following negotiations with the…

HS2 could use alliancing style contracts for future work to get the “best value”, Construction News can reveal. HS2 chief executive Mark Thurston said the megaproject with its web of contractors created an opportunity for closer collaboration. Thurston told CN: “There’s a lot of good learning about how we as…

Murphy has been awarded a major contract to expand a Liquid Natural Gas (LNG) facility on the Isle of Grain in Kent. Murphy's contract, understood to be worth more than £100m, includes delivery of three gas compressors and equipment rooms, two submerged combustion vaporisers and two export tank pumps. The…