AUG.L Regulatory News (AUG)

5 Jul 2007 07:00

Augean Plc05 July 2007 5th July 2007 Augean Plc Pre-close Trading Update Augean Plc, one of the UK's leading hazardous waste businesses, is pleased toupdate the market prior to going into its closed period following the first halfyear of trading in 2007. Good progress has been made during the first six months of 2007 with growth inactivity from the Landfill Division and a period of consolidation for theTreatment Division. Profit before tax for the first half is expected to be inexcess of £2m and net debt at the period end was approximately £9m (H2 2006:£11m) as a result of strong cash generation. During the first six months of the year, hazardous waste volumes into thelandfill sites were 125,000 tonnes (H2 2006: 117,000 tonnes), with sales in theLandfill Division remaining predominantly linked to activity in the constructionindustry. Terramundo, Augean's joint venture with DEC, opened its soil recoveryplant at the beginning of June 2007 and encouraging levels of customer interesthave since been generated. Peter Worlledge, CEO, said: "I have spent the last three months assessing the business, its asset base,market position and growth potential and, although the market has taken time toestablish itself, I remain very encouraged by the prospects for the business inthe medium and long term. "The new team is vigorously pursuing opportunities, internally and externally,to enhance the overall business offering and is pleased with the early progresson a number of specific projects." Augean's half year results to 30 June 2007 are due to be announced on 11September. - Ends - For further information, please contact: Peter Worlledge, CEO, Augean Plc 01937 844980Peter Southby, Finance Director, Augean PlcJonathon Brill/Billy Clegg, Financial Dynamics 020 7831 3113 This information is provided by RNS The company news service from the London Stock Exchange