Nuclear contract axed

ENGINEERING group Costain has dropped a potential £350m contract for extra work on Hinkley Point C, the nuclear power plant being built in Somerset.

Bosses said they were unable to agree final terms and conditions.

It came as Costain posted a 34pc rise in profit to £21.2m and is hiking its dividend by 10pc to 4.75p. Revenues are up 11pc to £ 874.5m, boosted by its infrastructure and natural resources divisions.

Innovations include using drones to check its equipment’s operation and robotics to run pumping stations. It has developed roads with Highways England, water pipes on the Thames Tideway project, and is working on the HS2 rail plan.