logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ford has revived the iconic Bronco brand after a gap of 24 years, this time as a dedicated off-road brand aiming to take on Fiat Chrysler's Jeep Wrangler, the dominant vehicle in the off-road category. Ford has introduced three new vehicles under the all-new Bronco brand as a 4x4 family of rugged SUVs under the tagline, "Built Wild". 3M Co. is teaming with researchers at Massachusetts Institute of Technology or MIT to develop a new rapid antigen test that detects the COVID-19 virus. The research, being conducted at the pilot lab facility at 3M's headquarters in St. Paul, Minnesota, is to learn if a simple-to-use, diagnostic device can produce highly accurate results within minutes and is feasible to mass manufacture. Retail giant Walmart has teamed up with the U.S. Department of Agriculture (USDA) to enable customers who pay for groceries with SNAP benefits, to gain access to Walmart's pickup and delivery service. Nearly 3,000 Walmart stores in 39 U.S. states are now offering customers receiving SNAP benefits through their Electronic Benefit Transfer (EBT) card to complete payments using the EBT card.
Follow RTT