Wetherby waste management firm Augean sees pre-tax profit increase to £10.1m

Specialist waste management firm Augean continued to grow in its key market of Energy from Waste (EfW) treatment and seen a recovery in both the construction, treatment and to a lesser extent radioactive waste sector, which were impacted in 2020 as a result of the Covid-19 pandemic.

Adjusted profit before tax increased 19 per cent to £10.1m.

The Wetherby-based business reported that adjusted revenue before Landfill Tax decreased by 8 per cent to £37.9m for the six months ended June 30, 2021, down from £41.4m the previous year. While adjusted profit before tax increased 19 per cent to £10.1m.

It's North Sea service business continues to be subdued however revenue remains in line with management expectation, with no new significant decommissioning projects expected in 2021.

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Jim Meredith, executive chairman of Augean, said: "The group has delivered pleasing growth in our core markets in the first half. We anticipate this to continue in the second half with full year results therefore anticipated to be in line with our expectations."

All sites remained fully operational year to date with safe working measures being put in place to mitigate impact of Covid-19.

The board expects to meet management expectations for the full year.


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