Bond Street deal gives Costain fillip

"We are setting out our stall to meet the massive infrastructure needs of the UK over the next few years," Costain boss Andrew Wylie said today as he outlined his engineering firm's substantial growth plans.

"Notwithstanding the tough economic conditions, billions of pounds are going to be spent in the UK over the next few years," he said.

"There are some big needs to be addressed, from the renewable energy infrastructure, to work in London to ensure it remains a leading financial centre where people can travel efficiently."

As Costain's joint venture Costain-Skanska revealed a £35 million contract for work on the Crossrail project at Bond Street station, Wylie said his firm had "enhanced firepower" for deals "ranging from bolt-on to transformational transactions".

Last year, Costain's pre-tax profit rose more than 50% to £27.9 million.