Augean Plc - Mothball of East Kent High Temperature Incinerator
The review is now complete and the Group has decided that the Facility will be mothballed early in the New Year. The Group will now seek to sell or lease the site with the benefit of the existing permit to interested parties.
The Group has invested almost £1m per annum on the Facility which has consistently under-performed the returns required by the Group. While performance has been improving, in particular during the last quarter, it is forecast to lose £0.5m in 2018. The site, the 2018 loss and the costs of closure, estimated to be £0.6m, will therefore be treated as a discontinued activity for the 2018 Preliminary Results.