It has been a good 2025 so far for construction and infrastructure firm Costain (COST), with the shares gaining 15% to a five-year peak of 122p.

In March, the company posted an 18% jump in profit for 2024, despite a dip in revenue, and a record 38% increase in its forward work position to £5.4 billion from £3.9 billion the previous year.

Chief executive Alex Vaughan said the new order book, together with growth on existing frameworks, gave Costain ‘increasing visibility on future revenue and margins’.

On 15 May, ahead of its annual general meeting, the company reported trading year-to-date was in line with expectations, with new contract wins at Urenco’s uranium enrichment facility in Cheshire and at Sizewell C in East Suffolk, and confirmed it would meet both its adjusted operating margin target and its net cash target.

While it was ‘mindful’ of the economic backdrop, the firm said due to the critical nature of its work and the continued improvement in its portfolio of contracts it was ‘confident in the group’s strategy and growth prospects’. 

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