Augean reported strong progress from its portfolio of businesses in H1 15, despite weakness and volatility in some of its markets. Outperformance from Energy & Construction and Augean North Sea Services (ANSS) offset weaker performances from Industry & Infrastructure and Augean Integrated Services (AIS), while RWS was in line. Management remains confident of delivering forecast PBT growth and our estimates are unchanged, putting the shares on a c.25% P/E discount to the market.
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Strong H1 progress, reiterating FY15 expectations
- Published:
22 Sep 2015 -
Author:
Jo Reedman -
Pages:
7
Augean reported strong progress from its portfolio of businesses in H1 15, despite weakness and volatility in some of its markets. Outperformance from Energy & Construction and Augean North Sea Services (ANSS) offset weaker performances from Industry & Infrastructure and Augean Integrated Services (AIS), while RWS was in line. Management remains confident of delivering forecast PBT growth and our estimates are unchanged, putting the shares on a c.25% P/E discount to the market.