Augean sees new strategy delivering

WASTE management business Augean today said its new strategy is starting to deliver with a good pipeline of work.

In a pre-close trading update ahead of its half year results for the six months to June 30, the Wetherby-based group said revenues rose 6% to £24.9m with growth across all of its five divisions.

Augean’s divisions include energy & construction, radioactive waste services, integrated services, North Sea services and industry & infrastructure.

During the first six months of the year the group completed two transactions, the sale of its former Waste Network assets and the purchase of the East Kent site and net debt at the end of the period was approximately £8.9m (H2 2013: £8.5m), which it said was well within the headroom available from its loan facilities.
 
Commenting on the first half of the year, chief executive Dr Stewart Davies, said: “We are seeing clear signs of the opportunities that the new strategy is opening up for the group with positive revenue growth across all five divisions. While the first quarter was impacted by a number of one-off issues, the overall performance in the second quarter and pipeline of work in the Energy & Construction and Radioactive Waste Services divisions give me confidence in delivering the strategy announced in March. The group continues to trade in line with market expectations for the full year.”
 
Augean will announce its half year results on September 23.

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