‘Strong’ revenues being delivered at Augean
HAZARDOUS waste business Augean will tell its shareholders today that trading in its present financial year remains ahead of expectations.
Chairman Roger McDowell will say at the Wetherby-based business’s annual general meeting: “In particular, the group has delivered strong revenues and positive cashflows from operations.
“The group has made significant progress over the past six months in delivering previously identified strategic opportunities, including the activation of planning permission to receive Low Level Waste (LLW) at our East Northants Resource Management Facility, the addition of incineration capacity through the new East Kent Waste Recovery Facility and the recently announced venture to increase our waste management services to the offshore oil and gas sector through Augean North Sea Services.
“During the second half of the year the board and management team will be focused on driving value from all areas of the business and delivering the board’s revised expectations for the year.”
Mr McDowell said this strategy would be underpinned by the recent award of preferred bidder status for the disposal of approximately 2,000 tonnes of LLW through a framework agreement supported by the Nuclear Decommissioning Authority.
Based on recent performance, a number of executive directors and other non-plc directors are to be awarded “long-term incentives”, details of which will be announced following the AGM.
