Augean's full year revenues and profits rise
Augean, the specialist waste management group, today revealed that it had posted a rise in full year profits and had seen 'good momentum' across its businesses.
In 2016, the company’s total revenue increased by 25 per cent to £76.0m and profit before taxation rose by 16 per cent to £7.0m.
Augean said it had enjoyed a continued strong performance from energy and construction, with a 48 per cent growth in Air Pollution Control Residue (APCR) volumes.
Commenting on the results, Dr Stewart Davies, the chief executive, said: “2016 saw the group deliver double digit growth in revenue, operating cash flow and EBITDA.
“At an operational level, the group has achieved a number of key strategic goals including securing further contracts with top-tier customers and a significant increase in APCR volumes, reaffirming our integrated waste management proposition with our customers.
“We have seen good momentum across our portfolio of businesses and remain well positioned to take advantage of opportunities across a broad number of sectors.
“The group’s cash generation and balance sheet remain robust and the board remains confident of maintaining its track record of year-on-year increases in profitability in 2017.”