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Augean revenues up 25%

By BFN News | 07:39 AM | Tuesday 21 March, 2017

Waste management specialist Augean's pre-tax profits from continuing operations and excluding exceptional items rose by 16% to £7.0m in the year to the end of December. Total revenue increased by 25% to £76.0m and EBITDA rose by 17% to £14.1m. After exceptional item, profit before tax fell by 50% to £1.3m. Exceptional items of £5.7m principally included £3.3m non-cash impairment of East Kent, £1.2m related to a trade dispute settlement, and £0.8m of Colt acquisition fees. Chief executive Dr Stewart Davies said: "2016 saw the Group deliver double digit growth in revenue, operating cash flow and EBITDA. "At an operational level, the Group has achieved a number of key strategic goals including securing further contracts with top-tier customers and a significant increase in APCR volumes, reaffirming our integrated waste management proposition with our customers. "We have seen good momentum across our portfolio of businesses and remain well positioned to take advantage of opportunities across a broad number of sectors. "The Group's cash generation and balance sheet remain robust and the Board remains confident of maintaining its track record of year-on-year increases in profitability in 2017." Story provided by

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