Share Prices & Company Research

Market News

24 Jul 2018 | 13:16

Augean first-half earnings up by a third

Waste management group Augean said it expected to deliver a full-year profit 'at least in line' with market expectations after first-half profit rose by a third.

In the six months through June, the company said it benefitted from increased ash volume from energy from waste plants and significant cost reductions.

Loss-making activities at Colt Industrial and Augean Integrated Services had been sold.

'First half profit is ahead of prior year by over a third on a like for like basis and the group expects to deliver full year profit growth at least in line with market expectations,' the company said.

Net debt at 30 June was £2.7m, compared with £10.8m at 30 December, with a current expectation to be debt free by year end.

Augean also said it was having positive discussions with UK tax authorities over its landfill fax obligations.

'The group will robustly challenge the landfill tax assessments that it has or may receive from HMRC, through the tax tribunal system if appropriate,' it added.

At 1:16pm: (LON:AUG) Augean PLC share price was +5p at 41p

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.