AUG.L Regulatory News (AUG)

16 Dec 2005 07:01

Augean Plc16 December 2005 16th December 2005 Augean Plc ("Augean") Pre-close Trading Update and Board Change Your directors are pleased to confirm that the pre tax profit for the yearending 31 December 2005, will meet our broker's revised estimate of £3.4million. Initiatives put in place to bolster our sales effort in the contaminated soilssector are producing encouraging results and volumes from this source have beenconsistently better in the last two months than at any time previously. Chemicalwaste volumes have also improved but are still behind levels experienced earlierthis year and prices have remained firm. We have also enjoyed a much betterworking relationship with the Environment Agency during these last few months. The Group Finance Director Gary Downey has resigned as a director and will beleaving the company at the end of the calendar year. He will continue to beavailable to the company to ensure a smooth transition to his successor. Augeanwas established with entrepreneurial directors and we have been aware for sometime that Gary wanted to pursue his own, separate business ventures. We have nowagreed an amicable parting and we thank him for the work he has done and wishhim every success in the future. With regards to the prospects for 2006, given the encouraging trend in hazardouswaste volumes, we anticipate achieving a better result than in 2005. David Williams, Chairman of Augean Plc said: "The increase in volumes is encouraging. With little debt and strong cash flow,we are looking forward to a successful 2006. An announcement concerning Gary'ssuccessor will be made in the New Year." Ends For further information, call: David Williams, Chairman, Augean Plc 020 7248 0802Jonathon Brill/Billy Clegg, Financial Dynamics 0207 831 3113 This information is provided by RNS The company news service from the London Stock Exchange