Information  X 
Enter a valid email address

Augean Plc (AUG)

  Print      Mail a friend

Wednesday 21 November, 2018

Augean Plc

Trading update

RNS Number : 9663H
Augean Plc
21 November 2018
 

 

21 November 2018

 

Augean plc

("Augean" or "the Group")

Trading update

 

 

Augean, one of the UK's leading specialist waste management businesses provides the following trading update. Due to stronger Group trading performance through the second half, the Group's adjusted profit before tax* for the year is expected to be materially ahead of market expectations. Results from continuing business have benefitted from higher contaminated soil volume, increased radioactive waste profit and strong performance of both the treatment and North Sea businesses.

The Group can confirm that, as expected, it has now moved to a cash positive position with all bank debt repaid.

The Group has exchanged contracts to sell the freehold of a property in Hull for £1.3m, with no profit or loss on sale, with completion of the transaction expected on December 20th.

 

The Group is performing a strategic review of the operation of the East Kent High Temperature Incinerator facility.

 

There has been no further update on the assessment notifications from HMRC recently made by the Group.

 

 

* adjusted profit before tax is measured as profit from continuing operations before amortisation of intangibles, income and share based payments, exceptional items and taxation

 

-  Ends -

This announcement contains inside information.

 

 

 

Enquiries:

 

Augean plc

Jim Meredith, Executive Chairman

Mark Fryer, Group Finance Director

 

01937 844 980

N+1 Singer

Shaun Dobson

Jen Boorer

 

 

020 7496 3000

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
TSTLFFLILRLIFIT

a d v e r t i s e m e n t