Edison report29 Jul 2011 00:30
Jul 27th 2011 - Edison Investment Research today published a report on Augean (AUG.L, LSE:AUG, LON:AUG) entitled "Positive Pre-close". In summary, the report says:
Augean’s pre-close statement highlights that, despite a quiet April, trading has been in line with expectations. In addition, with strict cost controls still in place, net debt has reduced further to £3.5m (H210: £3.9m). As announced on 7 July, the formal commencement on LLW has been slightly delayed pending a challenge lodged in the High Court. However, Augean has been making good progress in commercial discussions and readying the site to receive waste. We continue to believe it is only a matter of time before this opportunity becomes reality and we maintain both our forecasts and positive stance on the group. Interims are due on 27 September.