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12 Dec 2018 | 14:30

Augean decides to mothball incinerator in Kent

Waste management group Augean said it had decided to mothball a high-temperature incinerator in Kent.

It would now seek to sell or lease the site to interested parties.

Augean said it had invested almost £1m a year in the facility, which had consistently fallen short of providing returns required by the group.

'While performance has been improving, in particular during the last quarter, it is forecast to lose £0.5m in 2018,' the company said.

The site, the 2018 loss and the costs of closure, estimated to be £0.6m, would be treated as a discontinued activity in the group's 2018 results.

At 2:30pm: (LON:AUG) Augean PLC share price was -3p at 61p

Story provided by StockMarketWire.com
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