精东影视

Costain is one of several firms spearheading a push for the government to create a new role of cabinet minister for infrastructure.

The firm, along with several of its listed peers, wrote to the new government within weeks of its election win last summer to propose the post.

Since then, the firm has continued to keep up the pressure and has been speaking to senior officials about the position.

Chief executive Alex Vaughan said the role was 鈥渇undamental鈥� to the government鈥檚 plans to deliver on promises to build swathes of new infrastructure.

鈥淭hey鈥檝e got to join the dots across the government departments,鈥� he said. 鈥淣ew homes need water, energy and roads. We need someone with authority sitting around the cabinet table on this.鈥� He added: 鈥淧eople are supportive and listening so we鈥檒l see.鈥�

Vaughan praised the government鈥檚 plan to speed up infrastructure schemes and cut down on legal challenges. 鈥淲e have got to stop the protracted nature [of these schemes] that holds up things for too long.鈥�

The firm said it was still expecting to start work on driving HS2 tunnels from Old Oak Common to Euston in the first half of next year with tunnelling taking up to two years.

HS2鈥檚 new chief executive Mark Wild has ordered a review of the scheme with the former Crossrail boss describing it as a 鈥渞eset鈥� of the programme which he hopes will 鈥渂reak the cycle of this continuous drip-feed of bad news鈥�. MPs recently said the cost of the railway might be close to 拢80bn.

Meanwhile, Costain said its pre-tax profit last year was up 18% to 拢36.5m on revenue down 6% to 拢1.3bn.

Its forward work position, which includes preferred bidder work, was up 拢1.5bn to 拢5.4bn while its net cash balance at the year-end was down 6% to 拢158.5m. The firm said it was doubling its annual dividend paid to shareholders to 2.4p.

Vaughan said Costain was in its 鈥渂est place ever鈥� and was reaping the rewards from rising spending in its key energy, water, defence and transportation markets.

He promised a 鈥渟tep change鈥� in its performance from 2027 with analysts expecting turnover to be around 拢1.5bn and operating profit in the region of 拢60m. This year鈥檚 operating profit was up 16% to 拢31m.