COSTAIN TO CHANGE NAME TO COSCAN DEVELOPMENT
<Costain Ltd>'s shareholders will be
asked at the April 16 annual meeting to approve a change in the
company's name to Coscan Development Ltd, the company said in
the annual report.
    Under terms of the 1984 sale of controlling interest in the
company to <Carena-Bancorp Inc> from Costain Group Plc, the
Costain name was to be changed.
    Costain said a settlement was reached with the Costain
Group concerning a legal action launched before shareholders at
the 1986 annual meeting approved in principle changing the
company's name to Costan. The Costan name was not implemented.
    Costain also said in the annual report that it should
report further growth in earnings due to increased level of
activity in 1987 and expectation of improved margins.
    It said it expects housing revenue will increase by 25 pct
in 1987, supported by an increased number of active projects
and a carry forward of 427 sales. Costain reported housing
revenue in 1986 of 229.6 mln dlrs, up from 159.2 mln dlrs in
1985.
    Costain previously reported 1986 earnings of 12.9 mln dlrs
or 93 cts a share, compared to 6.9 mln dlrs or 63 cts a share
in the prior year.
 Reuter
