The strategy of making Augean a more resilient and sustainable business is clearly working with the update (25 January) suggesting trading remains in line with expectations. Given the exposure to the oil and gas market, this is a robust performance and reflects a management team on the front foot. With the share price drifting to the bottom of our valuation range (49-77p), nervousness over recent oil price weakness seems overdone.
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Resilience against a challenging background
- Published:
01 Feb 2016 -
Author:
Neil Basten -
Pages:
5
The strategy of making Augean a more resilient and sustainable business is clearly working with the update (25 January) suggesting trading remains in line with expectations. Given the exposure to the oil and gas market, this is a robust performance and reflects a management team on the front foot. With the share price drifting to the bottom of our valuation range (49-77p), nervousness over recent oil price weakness seems overdone.