9th Jan 2019 08:18
LONDON (Alliance News) - Waste management firm Augean PLC said Wednesday it expects 2018 performance to be in line with upgraded market expectations after a good second half performance.
The "stronger" trading performance for the last six months of 2018 also helped boost the firm to a higher net cash position than expected by the market, assisted by "favourable" timing differences too.
At GBP8.2 million, the net cash position is vastly improved on the GBP10.8 million net debt reported in 2017.
Augean added Non-Executive Director Roderick Holdsworth retired from the firm after almost three years of service.
"Rod has been instrumental in setting the standard for and ensuring the efficiency of our audit committee during his term," Augean explained in a statement. "The board have greatly valued Rod's advice and guidance and we would like to thank him for his input and support whilst serving the board."
Shares in Augean were 4.3% higher at 73.00 pence on Wednesday. Augean will deliver 2018 results on February 26.
Related Shares:
AUG.L