Costain Plans Big For Telecoms Sector With Public Offer

Costain (W.A.) Plc, one of the leading construction companies in Nigeria is planning big for the telecoms sector with a public offer to begin any moment from now.

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At an interactive session with media representatives at the weekend in Lagos, the chief executive officer, CEO of Costain (W.A.) Plc, Mr. Phil Wharton who was in company of the establishment’s executive director, Finance, Mr. Harm Ploeger, said that the company planned to go for public offer to increase its capital base in the execution of capital projects which include assisting the telecoms sector in the building of masts and base stations which Costain is already doing in countries like Congo, Uganda and other neighbouring countries.

“Costain (W.A.) Plc will be willing to render services and assistance in this direction,” he said.

Mr. Wharton recalled that the company has been in operation since 1948 and re-iterated that it is their desire to remain a major player in the construction industry just as he catalogued a long list of Costain’s achievements in the sector including NITEL highrise building in Lagos; Guinness building, Apapa Port and several edifices across the country.

The CEO eulogized the present performance of the company’s share price at the capital market which he said has appreciated from N1.48 in January 2007 to N18.89 same year. While recalling the successful hosting of its 59th Annual General Meeting, AGM in Abuja in September this year where it announced that its turn over had tripled increasing significantly to N3 billion from N1.1 billion in 2006, it was further gathered that the company’s half year result posted has similarly witnessed a remarkable growth from N344.4 million made last year to N772.6 million in 2007.

The company’s helmsman specifically announced that Costain is looking for substantial growth over the next five years even as he posited that the company’s corporate vision is to be leader in the delivery of sustainable services.

While bemoaning the problems which may have stunted the growth of the company over the years, the CEO attributed it to their failure to change with time by bringing into the company in good time enough professionals, adding that they have since overcome the teething problems. He said the company will capitalise on the brand name it has made over the years in the industry to relaunch it into reckoning even as he called on all Nigerians to take advantage of the public offer to be shareholders of a company that has earned for itself a global identity.