13th Jan 2020 09:58
(Alliance News) - Augean PLC said Monday that trading continued to be strong through the final quarter of 2019.
In a trading update for the year ended December 31, the waste management company said it expects adjusted profit before tax to be "at least" in line with recently upgraded consensus market expectations of GBP18.4 million.
Back in October, the company had said its results for 2019 will benefit from a 20% rise in landfill volumes across all waste types in the year-to-date, with landfill pricing also rising 20%.
The company had said it benefited from higher profit from radioactive waste operations as well as good performance in both its waste treatment and North Sea business.
Augean had said in October the market saw adjusted pretax profit for 2019 of GBP16.5 million, but the company believed it would be "materially ahead" of this.
In May, Augean already had said that 2019 profit would beat expectations after a good start of the year.
In 2018, pretax profit more than doubled to GBP10.6 million and the adjusted figure rose 69% to GBP11.4 million.
Augean shares were down 0.3% in London at 209.40 pence each on Monday.
By Loreta Juodagalvyte; [email protected]
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