Augean restructure to help first dividend

AN appeal to the High Court by a campaigner which is holding up Augean’s plans to bury low level waste at one of its sites will not affect the group’s profitability, according to its chief executive.

And Paul Blackler has told TheBusinessDesk.com a plan to restructure the business will give the group better opportunities to introduce dividend payments to shareholders.

Wetherby-based hazardous waste firm Augean finally got the green light to dispose of construction, demolition and some nuclear materials – under a ‘low level waste’ project – at the site near Duddington, Northamptonshire, in May.

Planning permission was initially refused by Northamptonshire County Council but the scheme was then given the go-ahead by Communities Secretary Eric Pickles.

However, a resident, who is a member of a campaign group against the plans, has filed an appeal with the High Court to try to block the company’s low level waste strategy.

Speaking to TheBusinessDesk.com yesterday, chief executive Paul Blackler said he was hopeful the decision would go in Augean’s favour as it believes the case rests on a point of law.

However, Mr Blackler said if the decision did go against Augean it would not negatively impact the business.

He said: “There’s no impact on the underlying business; let’s be clear. We continue to pursue other opportunities. The low level waste project is a focussed opportunity but it’s on top of what we’re doing now.”

TheBusinessDesk.com reported yesterday how Augean has cut losses and increased revenues over its half year as it revealed a restructure of the business.

“We’re working very hard to develop our market position,” Mr Blackler added: “But we’ve also set out our strategy to effectively leverage into new markets.”

These include nuclear decommissioning and offshore oil and gas.