Augean’s full year profits rise

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AUGEAN, the specialist waste management firm, recorded an increase in profits and revenues in 2014.

The Wetherby-based firm saw its revenue increase by 26 per cent to £55.0m, while the profit before tax rose by 22 per cent to £5.4m.

The company said it had enjoyed a strong start to 2015 across all five business units.

Commenting on the results, Dr Stewart Davies, the chief executive, 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.”