In a trading update it also said its cash position was "significantly in excess of £100m" and the forward order book was a record £2bn on 31 December, 25% more than a year ago. It included over £700m of work secured for 2009.

"The group's operations continue to benefit from the strategic focus on targeted blue chip customers in chosen sectors," it said. The company's preferred bidder positions increased to over £1bn.

"Costain is demonstrating its resilience in the current economic environment," said chief executive Andrew Wyllie. "We have a range of excellent customers who are expected to continue with their investment programmes, a strong cash position, a focussed management team and an ongoing rigorous management of costs."