Yorkshire waste management company make “significant progress” in overall profits

A Yorkshire waste management company, Augean plc, have seen a rise in overall profits after releasing its preliminary results for the year ending 31 December 2014.

According to the official statement, last year saw the company’s revenue increase by 26% to £55.0m, compared to £43.5m earned in 2013.

Furthermore, Augean’s pre-tax profit also increased from £4.4m in 2013 to £5.4m (22%) at the end of last year.

These results are mainly due to the growth of all five of the company’s businesses, especially the increase in the revenues from several key sectors including low level radioactive waste, admittance to the LLWR(4) treatment framework, for the Radioactive Waste Services business.

The company’s performance and profit in its industry and infrastructure is also growing.

As Richard Laker was appointed to the Board as Group Finance Director in September 2014, the company is expecting the success of all five businesses to continue, with four of them focusing on growing markets throughout 2015.

Dr Stewart Davies, chief executive officer, said: “The Group has delivered a strong set of results in 2014 underpinned by growth in revenue, profit and operating cash flow. Growth was seen across all five businesses validating our focus on growing shareholder value by developing sustainable market positions in each business.

“We have made significant progress in moving more of the Group’s revenues from ‘spot’ or short-term contracts to long-term contracts and frameworks which has provided increased visibility for the order book.

“The Board believes that the Group’s customer-focused, service-led businesses are well positioned to take advantage of opportunities in each of the markets that they serve. The continued execution of the strategy of the wider Group along with an expectation of continuing general UK economic recovery, means that the Board remains confident of another year of increasing profitability and cash flows for the Group as a whole in 2015.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →