How do we change perceptions around your brand?
Because of a construction heritage, including some of the world’s most iconic infrastructure projects, perceptions of a historic brand over-rode the reality of a business which had re-orientated its earnings towards higher-margin civil contracting and related support service activities, severely impacting sentiment amongst the investor community at the onset of recession and cuts in public spending.
Twin-track strategy: first, educate the market about the group’s strategy and attach major KPIs to its delivery including clear targets and demonstration of delivery; and second, differentiate the company from its legacy peer group through upgrading Costain’s communications platforms and transforming the company’s language from a company focussed on construction to one focussed on meeting national needs through innovation.
The perception of Costain has markedly changed: from negative observations of “trapped by its history and over-exposed to a weak sector getting weaker by the day” to “I don’t think there is a better story in the sector at the moment than Costain”.
The tide of sentiment has shifted enormously in Costain’s favour, resulting in a valuation re-rating and giving the Group a supportive platform in the investment community from which to pursue its growth strategy.