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Having had the pleasure (not!) of dealing with HMRC on the same issues that Augean have I would not be so confident that this will end well. They may well manage to defer the payments but will have to settle at some point.
Re the recent results, if you strip out the income from asset sales then they do not look so rosey.
I did buy in just after the HMRC news as I felt the share was way over sold. I took my profit at 49p with no regrets. One more bad negative communication from HMRC and this will nosedive again. Stand well back!
You prob need to consider the issues around their disputed HMRC tax demands, they keep appealing and the amounts have been reduced but that was part of the reason for the large falls and subsequent recoveries. I traded the rise and got out a bit early but made enough. I too am wondering what is true value but this issue makes it a bit tricky atm IMHO.
Most likely because of its huge ongoing rise from 40p. Needs to drop at some point.
I am not invested here yet but have been watching. Does anyone know where this is heading share price wise. What is its true current value?
Can anyone explain why we have dropped 5% today on seemingly no news?
Two sells of 1m today. Hard to work out who or why?
I can only put drop down to profit taking, due to rise in sp past year. At first glance good set of results...
Surely thats got to be insider trading. Oh well.... up she goes
Cant believe this share has been hidden from me. The growth here is fantastic. This share has been constantly rising on the back of great results. Truly a great company and great financials.
£1 next stop.
Top riser onboarsing
Going from strong to stronger
Shares are flying, and no doubt Mills buying is likely to be behind it.
The BBC website reported that a Scottish company HES lost their contracts for disposing of clinical waste as they had been found to be stockpiling the waste. HES has closed down, but they blamed the shortage of high temperature incineration available for their problems. That's interesting as Augean's Kent plant which is going to be mothballed is according to the Augean website one of only three high temperature incinerators in the UK.
Cracker.
Been too good a rise recently for me to not take my cash out now. Could quite well go further but I do not think it will get back to previous levels before tax issues until the issues are sorted and the company did mention this will be on going for the next year. So going by theory it can only rise so much before tax sorted, and having got a 50% rise, I’m out. Good luck to all still holding. The bod have bought big amounts here over last year so they are pretty confident. Should do very well when tax is sorted out. Gla
Yes exactly the point i was going to make and it would seem that a few others have the same idea too (with the price rising sharply) Nicely up on this one at the moment, and looking forward to the re-rating that you mention in your post...
Re-reading the latest RNS, the bod are confident that AUG will not have to pay extra tax in the end and they buying of shares is a massive vote of confidence. Since the initial tax request from HMRC, the share price halved. The company has since then reduced costs and stream lined the business to make it more profitable. If the Tax bill is dropped altogether I see no reason why the sp would not go higher than previously, which should still be double from the current price.
Nice rise yesterday and today on top of the previous rise. Still a risk with regards to a possible large tax bill but the bod do not seem to be worried about it as they owned a large stake before this recent large buys from them. They certainly give the impression of being very confident. The buys today and yesterday are rather large so either, the bod are still buying, or we have some II's hoovering up. gla
Quite possible. Approx �1.5 million bought recently mainly by companies owned by Mr Mills but also by other bod. Add to this the large stake the bod already own, the company is looking very attractive to own.
..have been on buying spree recently which should give support to the SP, including Christopher Mills (a non exec dir) who now owns over 21%. Seems more like he's planning to take it over rather than just showing his support!
announce its preliminary results for the year ended 31 December 2017. Financial highlights From continuing operations and excluding exceptional items � Total revenue increased by 11% to �84.7m (2016: �76.0m) � Adjusted profit before taxation1 and share based payment charges decreased 19% to �5.8m (2016: �7.2m) � Net operating cash flows decreased by 21% to �10.7m (2016: �13.5m) � Adjusted2 basic earnings per share decreased by 4% to 4.23 pence (2016: 4.42p) � Net debt remained in line with the prior year at �10.8m � No proposed dividend given the ongoing discussions with HMRC (2016: 1.0p per share) � As at 19 March net debt is �8.9m. A further �0.8m consideration in relation to the sale of AIS is expected in the next month Commenting on the Results, Jim Meredith, Executive Chairman, said: "2017 was a challenging year with the HMRC Landfill Tax assessments and a decline in Group profitability. We remain in active discussions with HMRC but do not anticipate a swift resolution. Steps have been taken to reduce the Group cost base by �4m and we have also reduced Group debt from over �18m in the Autumn to under �11m by year-end. Trading has commenced the year in line with board expectations." There will be a meeting for analysts at 9.00am today at the offices of FTI Consulting, 9th Floor, 200 Aldersgate, Aldersgate Street, London, EC1A 4HD. For further information please call 020 3727 1000.
Yet again more bod buying. £31k this time. Bod are hoovering up the shares.
Well if that’s not confidence then I don’t know what. Not a huge amount this time but when added to all the other bod buys it is a lot of buys. Gla
Bought into this recently. A bit of a gamble due to the HMRC tax as the bill could end up above �20m. Saying that, cost cutting has been done making the company more efficient and the recent BOD large buys is a very positive sign that the BOD believe they will not have to pay this tax in the end. If thats the case, the sp will pass previous levels. gla
nothing bought or sold here today? Whats going on?
Hopefully by this week.