30th Jun 2006 07:41
Augean Plc30 June 2006 30 June 2006 Augean Plc Pre-close Trading Update Augean Plc, one of the UK's leading hazardous waste businesses is pleased toupdate the market prior to going into its closed period following the first halfyear of trading in 2006. Good progress has been made during the first six months of 2006 with increasingsales of hazardous waste in the Landfill Division and consolidation within theTreatment Division. Overall hazardous waste volumes at the landfill sites are in line withexpectations of 120,000 tonnes. Volumes have been particularly strong in soilsas the strategy of increasing our focus on this waste sector in 2006 has beenimplemented, resulting in particularly strong growth at Port Clarence. Volumesof chemical waste have started to recover and volumes of asbestos have beenstrong. The hazardous waste monocells at Thornhaugh came on stream in April, and arestarting to deliver volumes of asbestos, soils and gypsum in line with thebudget. The encouraging trend in waste volumes witnessed during the first half, coupledwith the investment made in sales and marketing, is expected to deliver astronger result in the second half of 2006, with volumes increasing in line withmarket expectations. During the period Augean Treatment acquired Credential Hazardous Waste ("Credential Hazardous"), the hazardous waste collection and transfer business ofCredential Environmental Limited, for a consideration of £8.13 million. In theyear ending 31 March 2006, Credential Hazardous generated (unaudited) sales of£3.9 million and (unaudited) EBITDA of £0.8m. Credential Hazardous will bere-branded Augean Treatment and integration of the business is progressing well.A number of synergies have been identified with the existing treatment businessand the landfill division which will be pursued in the coming months. Augean's half year results to 30 June 2006 are due to be announced in September. - Ends - For further information, please contact: John Huntington, Chief Executive, Augean Plc 01937 844980 Jonathon Brill/Billy Clegg, Financial Dynamics 020 7831 3113 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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