IN BRIEF: Costain, United Utilities extend contract by three years
Costain Group PLC - Announces that United Utilities Group PLC extends its managed service provider contract by three years, taking the partnership to 10 years and covering the remainder of the AMP8 regulatory cycle. Costain has supported United Utilities since 2019, delivering more than 900 capital maintenance projects and around 9,000 responsive maintenance activities. The company says the extension supports United Utilities' £13.5 billion AMP8 investment programme and includes an option to continue the relationship through AMP9 to 2035.
Costain Chief Executive Officer Alex Vaughan says: "We are a long-term, trusted partner to United Utilities and this latest extension is testament to our track record of delivering predictably and consistently. Across the north west of England, we are working closely with United Utilities and our local supply chain partners to build critical resilience into the region's water and wastewater infrastructure. We're continuing to achieve performance enhancing results by optimising existing assets and integrating engineering knowledge, innovation and best practice while maintaining the highest standards of safety and quality."
Current Costain stock price: 213.00 pence each, up 2.9% on Wednesday afternoon in London
12-month change: up 40%
Current United Utilities stock price: 1,357.00p each, down 0.7%
12-month change: up 22%
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