Augean incinerator in Sandwich poised to break even

A waste management business warned investors profits will be at the lower end of expectations in the first six months of the year.

However, Augean, which handles radioactive and chemical waste, said its high temperature incinerator in Discovery Park, Sandwich, should finally be breaking even.

In a trading update, the company said it expects to reveal the site is covering its costs when it reports its results for the first half of the year in September.

The Sandwich site of nuclear waste management company Augean
The Sandwich site of nuclear waste management company Augean

In March, it revealed a fall in pre-tax profits to £1.3 million last year as it continued to support its loss-making incinerator plant in Kent.

The high-temperature incinerator, which burns waste for the pharmaceutical and high-tech industries, made an £800,000 operating loss, compared to a loss of £300,000 in 2015.

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