Costain Group PLC announce an interim dividend of 0.4 pence per ordinary share was paid on 18 October 2024 (2023: 0.4 pence). The Board is proposing a final dividend of 2.0 pence for the year ended 31 December 2024 (2023: 0.8 pence) which, if approved, will be paid on 29 May 2025 to shareholders on the register of members at close of business on 22 April 2025. The total dividend paid for the year will therefore be 2.4 pence per ordinary share (2023: 1.2 pence).
Other financial highlights include:
Revenue of £1,251m (FY 23: £1,332m) reflecting the timing of contract starts and completions in Transportation, with growth in all Natural Resources sectors.
Adjusted operating profit up 7.5% to £43.1m (FY 23: £40.1m) at the upper end of expectations with an increased operating margin in both divisions. Reported operating profit up 16.0% to £31.1m (FY 23: £26.8m).
A further year of margin improvement with an adjusted operating margin increase of 40bps to 3.4% (FY 23: 3.0%) and a 4.4% margin achieved in H2 24.
Adjusted EPS up strongly by 19.7% to 14.6p (FY 23: 12.2p), reflecting increased adjusted operating profits and financial income, together with a reduced tax rate. Reported EPS increased by 39.5% to 11.3p (FY 23: 8.1p).
Net cash in line with expectations at £158.5m (FY 23: £164.4m) after £10m buyback completed in the year.
Record increase of £1.5bn in high-quality forward work position to £5.4bn, more than four times FY 24 revenue (FY 23: £3.9bn).
Contract wins across all sectors with significant growth in Water AMP8 programmes and Rail.
