Augean confident of growth opportunities

HAZARDOUS waste management business, Augean, today said that in the first five months of the year, it has delivered a year on year increase in revenues and is confident of growth opportunities.

Chairman Jim Meredith will tell shareholders later today at the Wetherby-based firm’s annual general meeting: “In the first five months of 2013, the group has delivered a year on year increase in revenues and cash flow from operations has been positive.

“Whilst we continue to operate within challenging UK economic conditions, we have been able to leverage the group’s expertise in providing specialist waste management solutions for our customers and have continued to invest in markets which the board is confident will provide growth opportunities in the medium term.

“In particular, our North Sea Services business has developed its market presence and grown its con-tribution to the group.
 
“At the AGM today, the board will be seeking approval from our shareholders to pay the maiden dividend of the group. This represents a significant milestone in the development of Augean and reflects the board’s confidence in the group’s outlook as we continue to seek to provide long term returns from the capital employed.
 
“The board’s expectations for the 2013 results remain unchanged.”