StockMarketWire.com - Waste manager Augean posted a 22% rise in first-half profit after it offset falling revenue by slashing operating costs.

Pre-tax profit for the six months through June increased to £9.9 million, up from £8.1 million year-on-year, even as revenue fell 8.2% to £44.2 million.

The company said it had continued to grow in its key market of energy-from-waste treatment and seen a recovery in both the construction, treatment and to a lesser extent radioactive waste sector.

'The North Sea service business continues to be subdued however revenue remains in line with management expectation, it added.

Augean, which didn't declare an interim dividend, said it expected to meet management expectations for the full year.

'The group has delivered pleasing growth in our core markets in the first half,' chief executive Jim Meredith said.

'We anticipate this to continue in the second half with full year results therefore anticipated to be in line with our expectations.'






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