LONDON (Alliance News) - Waste management firm Augean PLC on Thursday affirmed its expectations for 2016 following in line trading in the first half.
Augean said trading in its Energy & Construction unit continued to be strong in the first half, with growth across a range of waste streams and new contracts secured. Radioactive Waste Services, however, has been hit by a sharp decline in volumes from UK nuclear decommissioning activity.
Industry & Infrastructure trading was encouraging, the company said, trading ahead of Augean's expectations and with margin improvements delivered at its Avonmouth site.
Augean Integrated Services has secured new contracts, but overall performance was hit by availability issues at its East Kent site, which Augean said it is seeking to address.
The firm's North Sea Services arm, meanwhile, won a number of significant contracts in the first half, but its financial performance remains "materially lower" year-on-year due to the tough conditions afflicting the oil and gas market.
Augean will publish interim results on September 20.
Shares in Augean were up 3.3% to 45.72 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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