Costain has closed out the year with a record order book of £3.9 billion as it continued to be awarded large scale contracts and contract extensions in the energy, transport and water infrastructure sectors.

In a trading update to the City this morning, the contractor announced that orders were up £400 million on last year’s £3.5bn record, with £1.1bn of secured revenues in 2016.

The firm claimed that its order book provides good long-term visibility with £2.8bn of revenues secured for 2017 and beyond, while 90 per cent of the order book comprises of repeat business.

It added it was preferred bidder on a further £500m of work, and is actively tendering for work across all its target markets.

The firm also finished 2015 with a net cash position of over £100m, despite the £36m acquisition of consultant Rhead Group, which it said has already been substantially integrated.

Andrew Wyllie CBE, chief executive, said: “Costain has had another good year. We also have good visibility over the medium-term, having finished the year with a record order book and a strong net cash position, providing confidence for the future.”