Update: Strong all round
Augean reported a strong set of FY14 results and provided an impressive organic profit growth outlook in excess of 10% for FY15. Clearly, the strategy introduced by CEO Stewart Davies is paying dividends and we expect it to continue to deliver improvements to ROCE. In our view, the current share price reflects the value of assets today with no value for growth.Augean is engaged in waste management businesses. Co.'s business units are: Energy & Construction, which disposes air pollution control residues, asbestos and other contaminated waste materials and soils; Radioactive Waste Services, which treats and disposes low level radioactive waste; Industry & Infrastructure, which is engaged in the recovery and recycling of oil and solvents and the generation of secondary liquid and solid fuels from waste; Augean Integrated Services, which provides total waste management; and Augean North Sea Services, which provides drilling waste management, production waste management, onshore & marine industrial services, decommissioning and water treatment.
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