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Date: Monday 13 Oct 2008

LONDON (ShareCast) - Contractor Costain said it continues to perform in line with company expectations following the strong first half of 2008.

The group, that helped build London's Thames Barrier flood defence, said the group's strategic focus has helped it remain confident that the outcome for 2008 will be in line with company expectations despite the uncertain environment.

Costain's group forward order book has been maintained at the half year's record level of over £2bn after a string of recent contracts including the £80m retail park contract in Newbury and the £120m Riverside waste contract at Belvedere, the group said in a company statement.

"Looking forward to next year, the group has secured over £600m of work, which is ahead of the position for 2008 at this time last year," it said.

Its cash position remains strong, it added, with no significant borrowings.

That along with "ongoing rigorous management of costs, places the group in a good position in the current uncertain economic environment."

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