9th Nov 2005 15:00
Augean Plc09 November 2005 9 November 2005 Augean plc Trading Update Following a record month in July we have seen volumes of hazardous waste fallbelow our expectations. The level of chemical waste inputs fell following theconfusion caused by new legislation introduced in July which has led manycustomers to stockpile waste or seek inappropriate disposal routes. Whilst the level of chemical waste inputs has yet to regain the July level thetrend is rising and the Board are confident this rising trend will continue overthe next financial year. Internal reorganisation to better address theconstruction market has been beneficial and we have experienced a generalincrease in the level of construction related waste. We have not, to date,benefited from a high volume contract which we had hoped to achieve butanticipate increasing our market share further in the next financial year. Accordingly the profits for the second half will be materially below yourBoard's prior expectations and are unlikely to show an improvement on the firsthalf results. We continue to trade profitably, continue to generate an operating cash flow andwith low gearing and a strong balance sheet the Board is confident as to thegroup's future prospects. Guidance as to these prospects will be given in ourpre-close statement in December. - Ends - For further information please contact: David WilliamsChairmanAugeanTel: 020 7248 0802 Jonathon Brill/Billy CleggFinancial DynamicsTel: 020 7831 3113 Notes to Editors About Augean plc Augean Plc, is one of the UK's market leaders in the management of hazardouswaste, providing advice and cost-effective solutions to UK businesses' wasteproblems. Augean works in partnership with its clients to provide long-termanswers to the treatment and disposal of their waste. Augean currently own morethan 10 million cubic metres of void space at landfill sites near Peterboroughand Middlesbrough, and a hazardous waste treatment facility at Cannock.Principle wastes include: construction and demolition waste, such ascontaminated soil; electronic waste, such as, computer monitors and televisions;industrial waste, such as solvents and paints and residues from other wastetreatments, such as ash from incinerators. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AUG.L