The six PFI investments, in healthcare and education projects, are valued at 拢22m.
As a result of the transaction, Costain said the profit realised on the PFI assets is 拢10.5m, and that its profit before tax for the year ending 31 December will be increased by 拢7.5m.
The firm added that its forward order book now stood at 拢2.4bn, after securing a number of major contract awards in the third quarter, including:
- Bond Street station upgrade, in joint venture, for London Underground
- Severn Trent facility at Frankley in addition to the AMP5 contract
- A 10-year nuclear framework contract for Magnox South
- A cable tunnel contract for National Grid
In addition, its is currently preferred bidder on contracts with an aggregate value of more than 拢400m.
Summarising the outlook, Costain said: 鈥淭he group welcomes the commitment by the Government in its recent Comprehensive Spending Review, and endorsed in the National Infrastructure Plan, to prioritise 拢200bn of investment over the next five years in key energy and infrastructure projects, such as Crossrail.聽
鈥淲hilst challenging market conditions are set to continue for the foreseeable future, the board expects to report continued progress at the year-end in line with its expectations.鈥澛�
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