However, it remains on course to meet its financial expectations for 2013, with a modestly increased order book.
Costain shareholders will be told today at the company’s annual general meeting that the group has had a strong start to the current year and is performing in line with the board's expectations.
The order book has increased to £2.5bn, up from £2.4bn at the start of the year, of which more than 90% is repeat orders. The preferred bidder position has grown from £400m to more than £500m in the same period.
To date, more than £800m of revenue has been secured for 2013 and the overall level of tendering activity across the group's targeted markets remains high, the directors report.
, Costain’s proposed merger is expected to officially lapse on 29 May 2013. Transaction costs of approximately £4m (pre-tax) were incurred chasing a deal and these will be expensed in the first half results and treated as a one-off non trading item.
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