Member Article

Wetherby waste management firm reports increased profits to £3.2 million

Augean, which Bdaily reported on yesterday has having sold one of its divisions, has reported adjusted profit before tax for the Group of £3.2m (2012: £2.6m)

Revenue from continuing operations increased by 19% to £43.5m (2012: £36.7m) and the group reported adjusted profit before tax for continuing operations increased by 12% to £4.4m (2012: £3.9m)

Commenting on the Results, Dr Stewart Davies, chief executive officer, said: “While Augean underwent a number of operational and strategic changes during 2013, the Group delivered a robust financial performance with increases in revenue and profit from continuing operations.

“The Board believes that the Group is well placed to benefit from the significant investment it has undertaken in new businesses and assets, the sale and closure of underperforming activities and any increase in the volume of waste management activity, backed by a general UK economic recovery.

“The Group has an established position in a number of key waste markets, including hazardous waste treatment and disposal, Air Pollution Control Residues management, low level radioactive waste disposal and North Sea oil and gas.

“With improving underlying performance across the whole Group and the benefits of lower overhead costs the Board expects further growth in EBITDA, operating profit and cash flows during the year.

“The newly developed strategy for the business, focused on key markets and a more service-led approach to customers, is expected to provide opportunities to deliver a material improvement to adjusted profit before tax in the coming 12 months.”

This was posted in Bdaily's Members' News section by Clare Burnett .