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Augean Plc (AUG)

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Wednesday 12 December, 2018

Augean Plc

Mothball of East Kent High Temperature Incinerator

RNS Number : 1776K
Augean Plc
12 December 2018
 

 

 

Augean plc

("Augean" or "the Group")

Mothball of East Kent High Temperature Incinerator

 

 

Augean, one of the UK's leading specialist waste management businesses, announced on November 21st that it was undertaking a review of its' East Kent High Temperature Incinerator (The "Facility"). The review is now complete and the Group has decided that the Facility will be mothballed early in the New Year. The Group will now seek to sell or lease the site with the benefit of the existing permit to interested parties.

 

The Group has invested almost £1m per annum on the Facility which has consistently under-performed the 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 site, the 2018 loss and the costs of closure, estimated to be £0.6m, will therefore be treated as a discontinued activity for the 2018 Preliminary Results.

 

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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

 

 


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