North Sea success puts Augean on the crest of a wave

The Wetherby-based​​ firm reported a good increase in revenues and operating profits at Augean North Sea Services and said it has won some notable new contracts with operators and tier-1 customers.

​In other divisions the group saw a good performance in energy and construction, with an increased level of tonnage sent to landfill.

The radioactive waste services division reported a successful six months, with higher revenues from operations involved with the decommissioning of the nuclear estate.

Its industry and infrastructure division recorded flat profits, with margin improvements offset by short-term fluctuations in the resale markets for recovered fuels.

Augean integrated services benefited from new waste management contracts and a strengthening of the commercial pipeline. ​The group said it expects​ underlying pre-tax profit for the six months to June 30 to be in line with market expectations.

​Croda’s CEO Dr Stewart Davies said: “The board expects a strong trading performance from the group overall to be reflected in growth in earnings and cash flow compared to the first half of 2014.

“Overall, we remain confident in our position to deliver further sustainable growth for shareholders.”