Augean looks to new markets to spark growth

WASTE management group Augean today said it had delivered increased revenues during the first half of its year but said its markets remained challenging and “competitive” and traditional markets offered limited growth.

The Wetherby-based company said in an update to the market ahead of its half year results in September, that group revenues rose by 17% to £23.4m in the six months to June 30 thanks to new activities in the disposal of radioactive wastes and North Sea waste management services.

Augean will welcome new CEO Dr Stewart Davies on August 12.
 
Commenting on the first half of the year Richard Allen, interim CEO, said: “Trading has been satisfactory during the first half of the year, with the group continuing to operate in challenging market conditions. Whilst our visibility of volumes available during the second half is currently limited, we remain confident of delivering year on year improvements to performance and results.”
 
The company said that markets for traditional hazardous waste transfer have continued to be challenging and despite winning new contracts, its waste network division has seen trading below expectations and it will follow the closure of its Worcester site with the shut down of a smaller site at Rochdale in the second half of the year.