Augean had a tough 2017 in terms of profitability and HMRC assessments regarding potential landfill tax liabilities. Adjusted PBT reduced by 19% to £5.8m driven by a lossmaking legacy Colt contract, a softer year for Energy & Construction, and a higher cost base due to an increase in headcount at the end of 2016. However a sharper focus on cost control meant that net debt was held at £10.8m. Our adjusted PBT and EPS forecasts are unchanged, as segmental adjustments and the disposal of the total ....
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A difficult year; update on HMRC
- Published:
20 Mar 2018 -
Author:
Jo Reedman -
Pages:
3
Augean had a tough 2017 in terms of profitability and HMRC assessments regarding potential landfill tax liabilities. Adjusted PBT reduced by 19% to £5.8m driven by a lossmaking legacy Colt contract, a softer year for Energy & Construction, and a higher cost base due to an increase in headcount at the end of 2016. However a sharper focus on cost control meant that net debt was held at £10.8m. Our adjusted PBT and EPS forecasts are unchanged, as segmental adjustments and the disposal of the total ....