The specialist waste business Augean Group has announced its financial results for the year ending 2016, reporting a 25% increase in revenue compared to 2015.
The company, which has 11 sites across the UK, has reported that total revenue from continuing operations, excluding exceptional items, reached £76 million for the year.
Augean’s operations include facilities to clean up contaminated soils
Augean also posted an increase in earnings before interest, tax, depreciation and amortization of 16% up to £7 million.
According to the company, there has been continued strong performance from its energy and construction divisions, with a 48% growth in Air Pollution Control Residue (APCR) volumes and it has seen further success in winning additional waste management contracts with “top tier” customers.
Outlook
Looking ahead, Augean has said that it has seen an ‘encouraging start’ to 2017, with a growing pipeline of sales, and that it is currently trading in line with market expectations for the year.
Commenting on the results, Augean chief executive Stewart Davies, said that the company had achieved ‘a number of strategic goals’ for the year.
“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.”
Stewart Davies
Augean
Dr Davies 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.”
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Source: letsrecycle.com Waste Managment
