Augean quarterly profits 'materially ahead' of expectations

1st May 2019 08:05

(Sharecast News) - Hazardous waste management outfit Augean told investors on Wednesday that due to a stronger trading performance across the group in its first trading quarter, profits for the year ended 31 December 2019 looked set to be "materially ahead" of market expectations.Augean said its results had benefitted from higher landfill volumes across most waste types, increased radioactive waste profits and a strong performance from both its treatment and North Sea businesses.The AIM-listed group has been embroiled in a dispute with HRMC and was still in talks with the tax collector over a £16.2m bill for landfill tax payments not made by two of its operating subsidiaries between February 2015 and May 2018. It will not be paying a dividend until the HMRC matter is resolved.Augean expects to announce its half-year results on July 17.As of 1100 BST, Augean shares had shot up 9.78% to 101p.