1 March 2021 | 08:54am
StockMarketWire.com - Waste management company Augean swung to an annual profit and proposed to resume its dividend in 2021, as lower exceptional cost offset a decline in revenue.
For the year ended December, pre-tax profit was £16.4 million from a loss of £15.3 million a year earlier, while revenue fell to £91.7 million from £107.1 million. The impact of Covid-19 was most felt on Augean North Sea Services (ANSS) . as Covid-19 saw unprecedented declines in the Brent oil price with a consequent fall off in activity in the North Sea, the company said.
The return to profit comes as there was no repeat of the one-off exceptional costs recorded in 2019 relating to HMRC Landfill Tax Assessments.
18 February 2021 | 09:44am
StockMarketWire.com - 0International group of architects Aukett Swanke swung to an annual loss a surge on Covid-19 cases weighed activity, denting revenue in the second half of the year.
For the year ended 30 September 2020, the company reported a pre-tax loss of £46 million compared with a profit of £292 million year-on-year as revenue slipped to £12.2 million from £15.5 million.
A surge in coronavirus cases led to sharp decline in revenues in second half from April to September, the company said. The current year started with revenues below our expectations due to further project delays and below average enquiries, accordingly we expect to make a loss in H1, it added.
18 January 2021 | 14:54pm
StockMarketWire.com - Specialist waste management business Augean has said trading recovered strongly in the second half of 2020 and that it expects to announce an annual pre-tax profit in line with the prior year, despite the impact of Covid-19 and the decline in its North Sea business.
In a trading update, Augean said that in its North Sea business further rationalisations have been made to the cost base in anticipation of future trading conditions, although the business reported a recovery in revenue in the second half of the year.
It expects to impair the North Sea asset values by approximately £3 million within its 2020 results.