Augean cleans up during the first half

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Augean cleans up during the first half
Master Investor Magazine 42 cover

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Specialist waste management business Augean (LON:AUG) announced that adjusted pre-tax profits for the six months ended 30th June climbed by 36% to £4.5 million. Revenues before landfill taxes rose by 6% to £32.9 million.

Executive chairman Jim Meredith said: “We have made excellent progress in the first half of 2018 having grown sales in all our key strategic markets, reduced the cost base of the Group, driven cash generation and co-operatively engaged with HMRC. We expect to make progress with HMRC in the second half of 2018 and will update the market accordingly. The team at Augean have responded well to the changes in the business, for which I would like to thank them all. With growth in our key strategic markets we expect to deliver full year financial results that exceed current market expectation.

Shares in Augean rose by 9.78% to 49.95p (as of 10:30 BST).


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