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Waste management businesses Augean swung to an annual loss as a rise in revenue was offset by legal costs as the company disputed an outstanding UK landfill tax.
For the year ended 31 December 2019, the company reported a pre-tax loss of £15.3m, compared with a profit of £10.6m on-year, while adjusted revenue increased 33% to £91.5m,
The loss came as the company recorded costs of £26.8m related to landfill tax legal costs.
'A strong start to initial trading has been made in the first months of 2020 with results ahead of prior year. The board is confident in the prospects of the group for the full year,' Augean said.
At 8:02am: (LON:AUG) Augean PLC share price was 0p at 217p