Despite the challenging trading conditions affecting some of Augean (LON:AUG) divisions, the portfolio approach allowed all the group financial metrics to show double-digit growth. Good cash generation gives the group strategic options and has allowed a positive dividend surprise (+30%) reflecting the board’s confidence in Augean’s long-term prospects.
Delivering the strategy
Having put a revised strategy in place in 2014, Augean’s FY15 results were further evidence that the move to ‘market facing’ divisions has allowed the group to continue its positive momentum, with four divisions out of five showing progress despite the difficult background. All the financial KPIs were positive and we were encouraged in particular by the improvement in ROCE to 11.4%. With an increasingly strong balance sheet and significant financial firepower, the focus remains on creating long-term shareholder value, whether organically or via selective acquisitions.
To read the entire report Please click on the pdf File Below