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Augean Q3 Performance Strong, Sees FY Profit Above Market View; Stock Up

Shares of Augean Plc (AUG.L) were gaining around 13 percent in the early morning trading in London after the specialist waste management company said Wednesday that it expects fiscal year 2019 profit to be materially ahead of market estimates due to a strong third-quarter performance.

In its trading update, the company said its profit for the year to December 31, 2019 would be ahead of current consensus market expectations of an adjusted profit before tax of 16.5 million pounds.

For the year-to-date period, the results were benefited from a 20 percent increase in landfill volumes across all waste types, and 20 percent increase in landfill pricing.

Further, increased radioactive waste profit and a good performance by both the treatment and North Sea businesses also benefited the results.

In London, Augean shares were trading at 132.80 pence, up 12.54 percent.

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